Binance to Roll Out Futures Trading Platform Sometime In September, Claims Changpeng Zhao
Binance's CEO Changpeng Zhao has just announced through his official Twitter account that the crypto exchange plans to launch Bitcoin futures trading in September.
In an AMA (ask me anything) session on Twitter, CZ addressed his followers as well as Binance clients where he described some of the major features and details of the upcoming Futures trading platform that will be released soon.
— Binance (@binance) August 28, 2019
According to the CEO Binance Futures trading platform will allow traders to take both long and short positions. However, only BTC/USDT pair will be available with a 20x leverage. However, CZ stated that the exchange has plans to add more pairs in the near future as well as provide their clients with the possibility of trading with a leverage greater than x5 but less than x100.
CZ has also noted the exchange is currently working on the expansion of its crypto asset staking capabilities. For example, the platform has recently implemented staking for some cryptocurrencies such as Algorand, Stratis, Qtum and Stellar, Cointelegraph reports.
It is worthy of note, that Binance first revealed its plans for launching a futures exchange during the Asia Blockchain Summit in Taiwan, following the launch of its testnet.
During his keynote speech at the summit, Zhao spoke about the company's decision of making futures trading available on its platform soon. Being a highly used feature among traders, Binance has invested in two undisclosed futures platforms, one of which is described as more of an acquisition, while the other is their own product.
The CEO further added that both platforms are kind of ready, but the company has not decided which of them to release yet and that they may in fact release both because they are slightly different products.
Earlier this month revealed its ambitious Venus project which will allow the issuance of localized stablecoins and digital assets pegged to fiat currencies across the globe. Recently, the exchange revealed its lending services with an annual interest rate of 7 to 15 percent and would be available on a first-come, first-served basis.