Binance is expanding its derivatives offering into foreign exchange with the launch of 24/7 perpetual futures, starting with a US dollar-Brazilian real contract on Monday.
Unlike traditional FX markets, which close for the weekend, Binances contracts will trade continuously using a dual-mode pricing system. During regular FX trading hours, prices will track a weighted index from third-party data providers, while weekends and public holidays will use an orderbook-based pricing mechanism.
The USDBRLUSDT contract will go live on Sept. 21, settle in USDT and offer up to 100x leverage, according to a Friday announcement. Binance said the weekend system uses an exponentially weighted moving average of orderbook prices, rather than relying on external price feeds.
Binance trading head Shunyet Jan said the contracts are intended to extend price discovery beyond traditional FX trading hours, while giving traders a venue to hedge or take positions around the clock.
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Crypto exchanges expand into foreign exchange
The launch comes less than two weeks after Bybit introduced 24/7 perpetuals tracking EUR/USD, GBP/USD and USD/JPY, also settled in USDT and offering up to 100x leverage.
Other crypto exchanges entered the market earlier. Kraken launched FX perpetuals tracking the euro, British pound, Australian dollar, Japanese yen and Swiss franc in April 2025, with up to 50x leverage. The exchange had offered spot FX trading since 2020 and reported $5.7 billion in FX spot volume in the first part of 2025.
The products give crypto traders exposure to currency movements without owning the underlying currencies, tapping into a market that handles more trading than any other financial market. Global OTC FX turnover averaged $9.6 trillion a day in April 2025, according to a report from the Bank for International Settlements.
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