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Binance, the world’s largest cryptocurrency exchange by 24-hour trading volume, has revealed its plans to launch cryptocurrency futures trading platform, CoinDesk reported.
.@cz_binance just announced that #Binance will offer futures contracts in his keynote at the @aba_summit! #ABS2019 #Taipei #Futures pic.twitter.com/RXlui8YY0V
— Binance (@binance) July 2, 2019
During his presentation at the Asia Blockchain Summit in Taipei today, Binance founder and CEO Changpeng Zhao demonstrated a futures trading interface on Binance along with features such as longs and shorts on crypto assets.
“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.
He also said that the screenshot being displayed during the presentation was an “actual screenshot of the working system,” adding “So Binance futures is coming.”
Zhao further said that the platform will initially support bitcoin at a leverage of up to 20 times. The announcement follows Binance’s launch of margin trading on its platform last month.
A Binance spokesperson told CoinDesk that the exchange is planning to launch the test version in about two weeks from now.
“Margin trading will roll out to all users first (around July 11 or so), then futures testnet will come about a week after that,” the spokesperson added.
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