Summary
- The global cryptocurrency exchange Bybit announced the introduction of a stock trading service.
- Users are expected to be able to trade stocks of 78 companies with Tether (USDT).
- Bybit explained that stock trading will be conducted based on the Contract for Difference (CFD) model.
On the 19th (local time), according to the cryptocurrency-focused media The Block, the global cryptocurrency exchange Bybit announced that it will add stock trading to its gold and forex product lineup.
As a result, users will be able to trade stocks of 78 companies, including Coinbase, with Tether (USDT). Bybit explained that this feature is based on the Contract for Difference (CFD) model.
Meanwhile, CFD is a financial derivative that allows users to bet on price fluctuations without actually owning the underlying asset, with profits and losses determined by the difference between the entry and exit prices.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
