Binance is expanding into foreign exchange derivatives with 24/7 perpetual futures, beginning with a US dollar-Brazilian real contract.
According to a Friday announcement, the USDBRLUSDT contract will go live on Sept. 21, settle in Tether’s USDT and offer leverage of up to 100x.
The structure differs from traditional FX trading, which shuts over the weekend. Binance said its contracts will trade continuously through a dual-mode pricing system. During standard FX market hours, prices will track a weighted index based on data from third-party providers. On weekends and public holidays, the exchange will switch to an orderbook-based pricing mechanism.
Binance said the weekend model uses an exponentially weighted moving average of orderbook prices instead of external price feeds.
Shunyet Jan, Binance’s head of trading, said the contracts are meant to extend price discovery beyond traditional FX trading hours while giving traders a place to hedge or take positions around the clock.
Crypto exchanges are pushing deeper into FX
Binance’s launch comes less than two weeks after Bybit introduced 24/7 perpetual products tied to EUR/USD, GBP/USD and USD/JPY. Those contracts also settle in USDT and offer leverage of up to 100x.
Other exchanges moved earlier. Kraken launched FX perpetuals in April 2025 tied to the euro, British pound, Australian dollar, Japanese yen and Swiss franc, with leverage of up to 50x.
Kraken had already offered spot FX trading since 2020 and said it recorded $5.7 billion in FX spot volume in the first part of 2025.
These products let crypto traders gain exposure to currency moves without holding the underlying currencies directly. They are tied to the world’s largest financial market by trading volume. A report from the Bank for International Settlements said global OTC FX turnover averaged $9.6 trillion a day in April 2025.