Binance to Launch Its Futures Platform in September

Crypto exchange Binance is planning to launch its much-anticipated futures Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term as soon as next month.

The prospect was revealed by Changpeng “CZ” Zhao, founder and chief executive of the exchange, during an ask-me-anything session on Twitter on August 28.

https://t.co/BKrkbWFd5U

— Binance (@binance) August 28, 2019

Binance, which is one of the dominant exchange in terms of daily trading volume, first revealed its plans for launching a futures exchange at the beginning of July, following the launch of its testnet.

The platform will allow traders to take both long and short positions. Initially, only BTC/USDT pair will be available with Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term of 20x, per the initial revelation by CZ; however, the exchange has plans to add more pairs with, offering higher leverages.

.@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

Slowly taking over major crypto markets

With 560 available trading markets, Binance is one of the largest global digital currency exchanges and handled almost $692 million worth crypto trades in the last 24 hours, according to Coinmarketcap.com. Despite its dominance in the crypto-to-crypto spot trading market, the Malta-registered exchange is now expanding its reach in other areas too.

Recently, Binance jumped into the arena of crypto lending and launched schemes with an annual interest rate of 7 to 15 percent.

Meanwhile, the exchange is also ready to tap the US market with a new subsidiary in the country. Though not finalized, Binance US is expected to launch before November and will directly compete with Coinbase with its crypto-to-fiat trading services.

After launching a few stablecoins, Binance now wants to make a big splash in the lucrative stablecoin market and 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.