Rakuten Wallet Launching Crypto Margin Trading in Spring 2020
Japanese electronic commerce and online retail company Rakuten has announced support for margin trading via its cryptocurrency exchange.
According to an announcement made Monday, Rakuten Wallet, the crypto division of the online giant, is planning to offer clients the ability to trade digital assets on margin beginning this spring. Users are being encouraged to fill out an application and register for a dedicated cryptocurrency margin trading account ahead of the official launch.
The announcement says the exchange intends to offer up to 2x leverage for traders taking margin calls. In January, Japan’s market regulator Financial Services Agency (FSA) announced the decision to reduce crypto market leverage from 4x to 2x.
In addition to margin trading, Rakuten will also be implementing support for litecoin and XRP, adding to the growing collection of coins that currently include bitcoin, ether, and bitcoin cash.
While Rakuten did not provide a definitive date on when the service will be launched, the announcement says margin trading is being planned for Spring 2020, with open registrations for clients starting Mar. 2.
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