Key facts
- Binance will offer 24/7 perpetual futures contracts for foreign exchange markets.
- The first contract will be for US dollar-Brazilian real (USDBRLUSDT) and will go live on September 21.
- Contracts will settle in USDT and offer up to 100x leverage.
- Binance will use a dual-mode pricing system: third-party data during traditional FX hours and an orderbook-based mechanism on weekends and holidays.
- Bybit recently launched similar 24/7 perpetuals for EUR/USD, GBP/USD, and USD/JPY.
- Kraken introduced FX perpetuals for euro, British pound, Australian dollar, Japanese yen, and Swiss franc in April 2025.
Binance is expanding its derivatives offerings by launching 24/7 perpetual futures contracts for foreign exchange markets, beginning with a US dollar-Brazilian real pair. This move allows traders to speculate on currency movements or hedge positions outside of traditional trading hours.
The USDBRLUSDT contract is set to go live on September 21, offering up to 100x leverage and settling in USDT. Binance will employ a dual-mode pricing system: prices will follow a weighted index from third-party data providers during standard FX market hours, and switch to an orderbook-based mechanism, using an exponentially weighted moving average of prices, during weekends and public holidays. This aims to provide continuous price discovery.
Binance's entry into FX perpetuals follows similar launches by other crypto exchanges. Bybit recently introduced 24/7 perpetuals for EUR/USD, GBP/USD, and USD/JPY. Kraken also offers FX perpetuals for several major currency pairs, in addition to its spot FX trading services.
These products enable crypto traders to gain exposure to currency fluctuations without needing to hold the underlying fiat currencies, tapping into the vast global FX market, which saw an average daily turnover of $9.6 trillion in April 2025, according to the Bank for International Settlements.