Leading cryptocurrency exchange Binance is all set to enable futures trading on its platform dubbed Binance Futures. Changpeng Zhao (CZ), founder of Binance, made this announcement while showcasing a futures trading interface on the platform during the Asia Blockchain Summit.
While CZ did not provide a launch date for futures trading, he stated that the platform will initially support BTC/USDT futures trading with up to 20x leverage. The platform will support more pairs and higher leverage once it is rolled out. The test version is expected to be made live in the coming weeks.
Binance has been gradually rolling out the margin trading option joining the likes of rivals Poloniex and Huobi, among others. With Binance Futures, it will compete with platforms such as BitMEX and Bitfinex which offer up to 100x leverage.
(Image Credit: Binance)