Binance, the world’s largest crypto currency exchange by transaction volume, is preparing to launch a trading platform for futures contracts.
During a speech at the Asian Blockchain Summit in Taipei on Tuesday, stock exchange founder and CEO Changpeng Zhao introduced the Binance futures interface, which would allow long and short term transactions in crypto assets.
The building of a futures platform starts preparing soon. No exact dates yet. The simulation test version of the platform will be released in a few weeks.
Referring to the futures platform interface projected on the screen, he added:
This is a real screenshot of the running system. So comes Binance Futures.
Up to 20 Times Leverage
In his presentation, Zhao stated that the leverage ratio could go up to 20 times. Zhao also added that initially only futures transactions with Bitcoin will be allowed. The release date of Binance Futures is unclear. However, an official from Binance told CoinDesk that the test version will be available to the user within two weeks.
In addition, Binance launched margin transactions last month. The futures platform move came shortly thereafter.
According to the Binance official, margin transactions will be available to all users by July 11th. Then the test version of futures will be released.
Along with these, Binance announced on June 13 that he would enter the US market. It was claimed that the Binance US crypto currency exchange will be launched in partnership with BAM Trading Services. We shared the details here with you. The stock market then announced that it had stopped trading for its customers in America.