Cointelegraph
Binance launches 24/7 FX perps with weekend pricing system
Binance is joining a growing number of crypto exchanges offering around-the-clock exposure to foreign exchange markets through perpetual futures. Binance is expanding its derivatives offering into foreign exchange with the launch of 24/7 perpetual futures, starting with a US dollar-Brazilian real contract on Monday.Unlike traditional FX markets, which close for the weekend, Binance’s contracts…
Binance is joining a growing number of crypto exchanges offering around-the-clock exposure to foreign exchange markets through perpetual futures. Binance is expanding its derivatives offering into foreign exchange with the launch of 24/7 perpetual futures, starting with a US dollar-Brazilian real contract on Monday.
Unlike traditional FX markets, which close for the weekend, Binance’s contracts will trade continuously using a dual-mode pricing system. During regular FX trading hours, prices will track a weighted index from third-party data providers, while weekends and public holidays will use an orderbook-based pricing mechanism.
The USDBRLUSDT contract will go live on Sept. 21, settle in USDT and offer up to 100x leverage, according to a Friday announcement. Binance said the weekend system uses an exponentially weighted moving average of orderbook prices, rather than relying on external price feeds.
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