Binance cryptocurrency exchange is about to launch futures trading in the near future. The exchange’s founder and CEO Changpeng “CZ” Zhao presented a futures trading interface on Binance within a presentation at the Asia Blockchain Summit in Taipei on Tuesday.
The leverage could be up to 20 times and will be offered for trading on bitcoin initially.
“Binance will be launching a futures platform very soon. I don’t have the exact date yet. The simulation test version will be live in a few weeks,” he said.
The futures trading option appears after Binance rolled out margin trading last month. Binance’s new features and services are part of its plans for expansion.
Back in April, the exchange launched its firs decentralized exchange Binance DEX, which allows users to trade cryptocurrencies directly from their digital wallets without a custodian mediating the transactions. It also set up a fiat-to-crypto exchange in Singapore and unveiled a new platform in Australia that allows users to buy bitcoin with cash from newsagents.