Coincheck Re-Enters Leveraged Trading Scene with CFD Service
Coincheck, a Japanese cryptocurrency exchange, has launched its CFD (contract for difference) service called 'Coincheck Leverage' after a six and a half year hiatus. The service allows users to trade with leverage, but with a maximum of 2x for retail investors.
The new service is available on the iOS app, starting from version 5.0.0 or later, and supports three yen-denominated pairs: Bitcoin (BTC), Ethereum (ETH), and XRP. The trading interface allows users to switch between spot and leveraged trading with a single tap, eliminating the need for a separate app.
According to Shuhei Sawamura, Head of Product at Coincheck, the release aims to address both long-term holding and short-term trading needs, allowing users to engage with market movements in both directions. The service operates under Japan's Financial Instruments and Exchange Act framework, which brought derivative transactions with crypto assets as underlying instruments under its scope.