Binance to Launch Its Futures Platform in September

Crypto exchange Binance is planning to launch its much-anticipated futures trading platform 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.

— Binance (@binance)

Binance, which is one of the dominant exchange in terms of daily trading volume, 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 of 20x, per the initial revelation by CZ, however, the exchange has plans to add more pairs with, offering higher leverages.

. just announced that will offer futures contracts in his keynote at the !

— Binance (@binance)

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 .
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 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 and digital assets pegged to fiat currencies across the globe.