XBTFX, a crypto-based derivatives trading platform, announced today that multi-collateral DAI (DAI) is now available for deposit, exchange, and withdrawal. Traders can now deposit DAI and exchange with any base trading account currency for trading forex, crypto, commodities, and index CFDs.
Users can exchange out from their MT5 trading accounts to DAI for withdrawals. In the near future, XBTFX plans to add DAI as a base account currency in MetaTrader 5 to be used as direct collateral for live trading on all crypto and traditional markets available at XBTFX.
DAI is a stablecoin, launched by MakerDAO that is pegged to the US dollar. It’s the world’s first unbiased stablecoin that is decentralized, running on the Ethereum blockchain. DAIs USD soft peg price stability is managed through a system of lending on the Ethereum network.
Features on XBTFX
XBTFX currently has 15 cryptocurrencies for deposit, withdrawal, and exchange including 6 stablecoins. The XBTFX MetaTrader 5 STP platform is available with accounts in four different base currencies: Bitcoin, Ethereum, Ripple, Tether and USD Coin.