Binance will launch margin trading and Binance Argentina "very soon"

08 May, 2019
by David Robb
Binance will launch margin trading and Binance Argentina very soon

Despite this being probably one of the worst days for the exchange, today also saw a number of positive announcements for Binance. In an AMA, CEO Changpeng 'CZ' Zhao claimed that margin trading and a few other important developments will be rolled out soon.

Binance was hacked today, with around 7000 BTC being stolen from a hot wallet. This was the first major hack on the leading crypto exchange since it was launched back in 2016. CZ held an AMA some hours later, in order to share information about what had happened with the hack and reassure users that the team was doing all it could in terms of improving security. A re-organization of the blockchain had even been proposed at one stage, although this was met with strong resistance from many in the community.

In the same AMA, CZ also gave some details about the ways that Binance would be developing in the near future. A significant new development for the exchange will be the launch of support for margin trading, which will be rolled out "very very soon". Initially it will be available just for larger clients, in order to test the system and notify bugs, before eventually being accessible to all Binance traders.

Binance Argentina is another important development for the exchange. Following on from Binance Uganda, which was launched last year as a way to improve access for crypto traders in the nation, Binance will be offering a new fiat onramp to users in Argentina, presumably allowing them to directly deposit Argentinian Pesos.

A number of different proposals and plans for a Binance stablecoin have also apparently been discussed, but at this stage nothing is set in stone, as "plans change very quickly".

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