Binance Set To Launch Futures Platform

Binance Set To Launch Futures Platform

Binance Set To Launch Futures Platform

At the second annual Asia Blockchain Summit (in Taipei, Taiwan), Binance CEO, Changpeng Zhao, revealed that his firm “will be launching a futures platform very soon.”

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Zhao during his speech talked about Binance’s journey from the launch of its centralized spot exchange on 14 July 2017 to the launch of a Bitcoin-backed BEP32 token (called BTCB) on its native blockchain, the Binance Chain.

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He presented a screenshot showing the trading interface for Binance’s upcoming futures trading platform:

Binance Set To Launch Futures Platform

On when this platform will be launched, Changpeng Zhao said:

“Binance will be launching a futures platform very soon. I don’t have the exact date yet. The simulation test version will be live in a few weeks.”

From what a Binance spokesperson said to Coindesk, this is what can be deduced:

  • Initially, there will be support for only Bitcoin (BTC-USDT).
  • Leverage will initially be up to 20X.
  • Eventually, support will be offered for higher leverage as well as more pairs.
  • The test version of “Binance Futures” will be launched “about a week” after margin trading has been rolled out to all Binance users (this rollout is expected to be complete by around July 11).

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