30 Jun '14, 10am

Huobi Brings Margin Trading, Interest Accounts to Bitcoin and Litecoin

Huobi Brings Margin Trading, Interest Accounts to Bitcoin and Litecoin

Chinese ‘big three’ exchange Huobi is bringing margin trading and interest accounts to bitcoin, in a bold and possibly industry-first move designed to make more ‘traditional’ financial products available to serious digital currency traders. The company’s new platform, BitVC , is a Hong Kong-listed subsidiary company with a margin trading platform for both bitcoin and litecoin. Users may borrow up to 200% of the net value of all assets in their accounts; that is, BTC, LTC, CNY values combined. Bitcoin interest To accompany the move, Huobi is launching another new brand called Yubibao to work in conjunction with BitVC. Yubibao is a novel addition and a rare thing in the bitcoin world: a savings account that provides users with daily interest payments . The idea is that BitVC users deposit funds into their Yubibao accounts, where those balances are made available for traders ...

Full article: http://www.coindesk.com/huobi-brings-margin-trading-inter...

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