Altcoin News: Binance Will Launch Bitcoin Futures Contracts with up to 20x Leverage

July 3, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

In the coming months, the Binance Cryptocurrency Exchange will launch its own futures platform called Binance Futures, writes The Block, citing the statement by CEO Binance Changpeng Zhao during the Asian blockchain summit in Taipei.

According to Zhao, the platform will initially support BTC / USDT futures with a maximum leverage of up to x20. It is assumed that over time the range of supported assets will be expanded, and the size of the leverage will be increased.

Image via Binance

“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,” CZ said.

BNB on the background of this announcement rose back a few percents after deep fall during the day.

Image credit: CoinMarketCap

Earlier, Binance strategy director Jin Chao reported that the company plans to realize the possibility of margin trading with a leverage of more than x5 but less than x100.

Binance has recently joined the list of cryptocurrency exchanges, which provide their clients with the possibility of margin trading. According to the representative of the press service of Binance, the full launch of margin trading is planned to take place around July 11.

Author: Marko Vidrih