Binance Clarifies Rumors About API Featuring Crypto Margin Trading

Earlier this week, a programmer on Reddit reportedly discovered margin trading features on Binance's API, the world's largest crypto exchange by daily volume.

"This change has not been reflected on the documentation. Further analysis of the response revealed that all 482 trading pairs have spot trading enabled and margin trading disabled; which makes sense. However, this API update implies that Binance is considering the implementation of margin trading features."

When CryptoSlate reached out to Binance, the team confirmed the validity of the public statement of Binance CEO Changpeng Zhao.

On Wednesday, Zhao, better known to the cryptocurrency community as CZ, said that there are no dates to integrate margin trading in the foreseeable future.

On Mar. 20th Binance officially announced the launch of Binance Lite Australia, enabling local users to purchase bitcoin at over 1,300 physical storefronts throughout the region.

"Binance Lite Australia further expands digital currency adoption by providing easier ways to buy bitcoin. We are excited to continue to roll out more fiat to crypto gateways around the world to support the growth of our industry. We firmly believe that more adoption will lead to more innovation and more economic opportunities."

While Binance may not need to integrate margin trading to increase their revenues or daily volume, the demand for margin trading options from the market has increased in recent years following the rapid growth of other margin trading service offering exchanges.

At the Binance Blockchain Week conference in Singapore, CZ also emphasized that the exchange and the industry are "Actually much healthier than a year ago" and that the company is in a good position after the debut of Binance Jersey, its newest fiat-to-crypto exchange.

"So far, the Jersey market is overwhelmed with demand. That shows there's plenty of demand there. Right now, the way I view it is that most of the money is still in fiat, it's still much larger than the crypto market cap. So we need to get fiat coming in. On the other side of it, we are working on the decentralized exchange so the Binance DEX will come out soon," CZ said.

For now, there are no confirmed dates for margin trading options on Binance.