Singapore-based crypto-exchange Huobi is in the news after it announced that it will launch real-time settlements for Bitcoin, Ethereum, Litecoin, Chainlink, and XRP USDT-Margined Swaps.
According to the announcement, the latest addition came on the back of Huobi Futures receiving massive praise and support from its users over a host of recent updates.
The real-time settlement feature for BTC/USDT, ETH/USDT, LTC/USDT, LINK/USDT, and XRP/USDT swaps will go live at 18:00 on 11 December 2020 (GMT+8)
The function will be available for both cross and isolated margin modes and will be implemented on a trial basis, which will be valid until 30 June 2021
Real-time settlement allows traders to withdraw the realized profits (minus unrealized loss and occupied margin) instantly after closing positions without the need to wait until the settlement time. This feature is believed to vastly improve the utilization of funds.
Earlier this year, crypto-exchange Bitstamp had announced real-time settlements in partnership with the BCB Liquidity Interchange Network Consortium (BLINC) built by the BCB Group.
Typically, real-time settlement is a service offered by banking institutions. In fact, just recently, Singaporean bank DBS announced the launch of its digital asset exchange that will likely offer this functionality.
Being the first crypto-exchange launched by a banking institution, DBS is expected to attract many institutional and retail investors, including those already trading on renowned crypto-exchanges such as Huobi. It is also expected to be a significant competitor to existing functional crypto-exchanges.
However, the exchange will also only function from 9 AM to 4 PM from Monday to Friday, as opposed to the 24/7 services offered by most crypto-exchanges.
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