Binance launches 24/7 FX perps starting with USD/BRL — SkimNews
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- Binance will launch its first FX perpetual futures contract — USDBRLUSDT — on September 21, settled in USDT with up to 100x leverage, per a Friday announcement.
- Binance's contracts use a dual-mode pricing system: a weighted index from third-party providers during regular FX hours, and an exponentially weighted moving average of orderbook prices on weekends and public holidays.
- Shunyet Jan, Binance's trading head, said the contracts are intended to extend price discovery beyond traditional FX trading hours and give traders a venue to hedge or take positions around the clock.
- Bybit introduced 24/7 perpetuals tracking EUR/USD, GBP/USD and USD/JPY less than two weeks earlier, also USDT-settled with up to 100x leverage.
- Kraken launched FX perpetuals tracking the euro, British pound, Australian dollar, Japanese yen and Swiss franc in April 2025 with up to 50x leverage, reporting $5.7 billion in FX spot volume in the first part of 2025.
- Global OTC FX turnover averaged $9.6 trillion a day in April 2025 according to the Bank for International Settlements — the market crypto exchanges are now tapping into with leveraged, always-open products.
Why it matters: Crypto exchanges are layering 24/7 leveraged products onto the world's largest financial market — $9.6 trillion in daily OTC FX turnover — giving traders weekend exposure that traditional FX desks cannot match. For Binance, Bybit, and Kraken, the launches open a new fee-generating vertical as competition in core crypto derivatives intensifies.
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