Binance to Launch 24/7 Forex Perpetual Contracts with Up to 100x Leverage

BlockBeats news, September 19, Binance announced it will launch 24/7 forex perpetual contracts, with the first product being USD/Brazilian Real (USDBRLUSDT), scheduled to go live on September 21, settled in USDT, offering up to 100x leverage.

The product will adopt weighted index pricing from third-party data providers during traditional forex trading hours; on weekends and public holidays, it will use an order book-based pricing mechanism, pricing through the exponentially weighted moving average of order book prices, to achieve round-the-clock trading.

Binance stated that the 24/7 forex perpetual contracts aim to break through the weekend closure limitations of traditional forex markets, providing traders with round-the-clock channels for exchange rate price discovery, hedging, and trading.