Binance Is Launching A Futures Trading Platform With 20x Leverage

The latest cryptocurrency news feature Binance’s chief and CEO, Changpeng Zhao, for his recent statement in which he revealed the company plans to launch a futures trading platform. The news show that Binance is launching a platform with initial support for BTC/USDT contracts with leverage of up to 20x.

Zhao made the announcement and was quickly featured in the altcoin news during his keynote speech delivered at the Asia Blockchain Summit in Taipei earlier today, on July 2. The fresh news show that Zhao – known by his handle ‘CZ’ – indicated that Binance is launching the futures trading platform but there is no exact launch date for it. A simulation test version, however, is expected to roll out within a few weeks.

“.@cz_binance just announced that #Binance will offer futures contracts in his keynote at the @aba_summit! #ABS2019 #Taipei #Futures” the announcement read.

.@cz_binance just announced that #Binance will offer futures contracts in his keynote at the @aba_summit! #ABS2019 #Taipei #Futures pic.twitter.com/RXlui8YY0V

— Binance (@binance) July 2, 2019

CZ also revealed that the platform’s main aim is to support long and short trading contracts for many crypto assets. He was in the headlines of many best cryptocurrency news sites even before that – after he confirmed that margin trading is now in beta testing and will soon be supported by the trading platform.

While Binance is launching a futures trading platform, these are not the only plans that the exchange has. The news show that the company has continued to roll out new trading pairs and features for its non-custodial trading platform, Binance DEX, and that there is an addition in the form of two new stablecoin trading pairs.

Meanwhile, other news show that on June 21, the BTC futures pioneer Chicago Mercantile Exchange (CME) Group reported a new high in its BTC futures contracts. The new record saw contracts spiking at $1.7 billion in notional value by June 28.

Binance continues to be a leader not only by its trading volume and it being the most popular exchange in the world – but also by its constant updates and novelties. As Binance is launching a new trading platform, many analysts believe that this is a new sign for more money by the masses and more investments from people but also institutional investors entering the field of crypto.