Cryptocurrency Exchange EQONEX Introduces Cross-Collateral Trading

EQONEX, a Nasdaq-listed cryptocurrency exchange, announced today that the company has introduced the functionality of cross-collateral trading across its platform to facilitate traders.

According to an official press release shared by EQONEX, the new feature will improve the overall capital efficiency as traders will be able to manage their collateral in an effective manner. Earlier this year, the cryptocurrency exchange launched BTC Perpetual Futures and Ethereum Perpetual Futures to meet the growing demand from crypto traders.

“Cross Collateral gives all customers the opportunity to use multiple assets instead of only USD or USDC to fund their Total Account Margin. This removes the requirement to convert assets into USD or USDC before opening a margined position. In addition, Cross Collateral now allows traders to generate negative USD or USDC balances to handle trading fees, basis payments, and P&L without liquidating any open Cross Collateral positions,” EQONEX mentioned in the announcement.

Global cryptocurrency trading volumes have increased rapidly in the last 8 months as the overall users jumped above 200 million. Leading crypto exchanges have started introducing innovative trading features to facilitate clients.

Cryptocurrency Adoption

In the latest announcement, Neil Sheppard, Chief Product Officer at EQONEX, highlighted that the main focus of the latest launch of cross-collateral trading is to support the institutional adoption of digital assets. “As we continue to improve and upgrade EQONEX, our main objective is to facilitate the wider institutional and professional trader adoption of crypto assets. Our roadmap to becoming the premier trading venue of choice for traders sees the introduction of both additional assets that can be used as Cross Collateral as well as a wider range of derivative products and trading features that will benefit from such functionality,” Sheppard said.

Last month, FTX, one of the leading cryptocurrency exchanges, reported a significant jump in volumes during the first half of 2021. The company’s average daily volume touched the peak of $993 million during a 24-hour period on 22 April 2021.

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