BitMEX reduces multi asset margin discount rate by 60% and adds SOL as margin currency

Odaily Planet Daily News: Crypto derivatives exchange BitMEX has announced significant updates for multi asset margin users, including a 60% reduction in margin discount rates and the addition of SOL (Solana) as a margin currency. This upgrade allows BitMEX users to enjoy one of the lowest discount rates in the cryptocurrency industry and use SOL as collateral to trade any derivative contracts on the platform. BitMEX first launched the multi asset margin function in January this year, aiming to provide users with simpler and more efficient asset utilization solutions for a better experience when trading derivative contracts. Through this update, BitMEX now supports USDT, USDC, BTC, ETH, and SOL as collateral assets, while offering one of the lowest discount rates in the market. BitMEX CEO Stephan Lutz said, "At BitMEX, we are always committed to improving the platform to enhance the trading experience for our users. Building on the launch of multi asset margin functionality earlier this year, we have taken the next step by significantly reducing discount rates and expanding options for asset collateral such as SOL. This update is part of our ongoing efforts to provide higher capital efficiency and flexibility, enabling traders to use more optimized trading solutions“ Unlike the requirements of most exchanges, BitMEX ensures a seamless trading experience for users - they can deposit their preferred currency and start trading immediately without the need to transfer funds between wallets. BitMEX's multi asset margin system automatically allocates user funds in the most efficient way possible to meet their margin requirements for holdings. To start using the multi asset margin function, users need to switch their account's margin mode to "multi asset margin" in the order form on the trading page.