Binance Adds Weekend Trading in Foreign-Exchange Perpetual Futures

Binance is expanding its offerings to include foreign-exchange perpetual futures trading. The product, called USDBRLUSDT, will allow users to trade on weekends and holidays, and will track the exchange rate between the U.S. dollar and the Brazilian real.

The contract uses margin in Tether's (USDT) and offers up to 100x leverage. Binance plans to manage risk through multiple pricing sources, a market average pricing mechanism, and limits on price deviations.

Shuneet Jan, Binance's head of derivatives, said the goal is to extend price discovery beyond traditional FX markets. Investors will be able to hedge currency risk or take directional positions at any time.

The product launches on September 21 at 11 p.m. Korea time and will be available for trading from that point forward.