Binance Exchange Is Launching Crypto Futures Trading Platform
Binance, the world’s largest cryptocurrency exchange by trading volume, is planning to enable futures trading.
During a presentation at the Asia Blockchain Summit in Taipei on Tuesday, Changpeng Zhao, founder and CEO of the exchange, showcased a futures trading interface on Binance with features including longs and shorts on crypto assets.
“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,” he said. Referring to the screenshot of the interface showed on the stage, Zhao added: “This is an actual screenshot of the working system. So Binance futures is coming.”
He indicated in his presentation slide that the leverage could be up to 20 times and will be offered for trading on bitcoin initially. While a firm releasing date of the feature is not yet set, a Binance spokesperson told CoinDesk it plans to launch the test in about two weeks from now.
The futures trading feature comes after the firm rolled out margin trading on the platform last month.
“Margin trading will roll out to all users first (around July 11 or so), then futures testnet will come about a week after that,” the spokesperson added.
Screenshot courtesy to Binance; CZ image via CoinDesk archive
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Wolfie Zhao, Khareem Sudlow