Binance launches 24/7 FX perps with weekend pricing system
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Binance has launched 24/7 perpetual futures contracts for the US dollar-Brazilian real (USDBRLUSDT), starting on September 21. Unlike traditional FX markets that close on weekends, Binance’s contracts trade continuously using a dual-mode pricing system with weighted indices during regular hours and an orderbook-based method on weekends. The contract offers up to 100x leverage and settles in USDT.
Why it matters
Binance aims to extend FX price discovery beyond traditional market hours, providing traders with a venue to hedge or take positions around the clock. This move reflects growing integration of crypto derivatives and traditional foreign exchange markets, potentially increasing access and liquidity. The source does not elaborate further on the broader market or policy impact.
Key context
Binance follows other crypto exchanges expanding into FX perpetuals, including Bybit’s recent launch of 24/7 contracts for EUR/USD, GBP/USD, and USD/JPY with similar features. Kraken had earlier introduced FX perpetuals in April 2025 for various currencies with up to 50x leverage, building on its prior spot FX trading since 2020. The FX market is significant, with a global OTC turnover averaging $9.6 trillion daily in April 2025.
Key numbers and entities
Binance, Bybit, and Kraken are the exchanges involved. The USDBRLUSDT contract allows up to 100x leverage, settles in USDT, and launched on September 21. Kraken offers up to 50x leverage on its FX perpetuals. The global OTC FX turnover averaged $9.6 trillion per day as of April 2025, per the Bank for International Settlements. Binance trading head Shunyet Jan is quoted regarding the product purpose.
What remains unclear
Details around user adoption levels, liquidity during weekend trading, and regulatory views on these 24/7 FX perpetuals are not addressed. The source does not specify how widely the contracts will be used or Binance’s broader strategy with these products.