Binance will launch 24/7 forex perpetual contracts with up to 100x leverage

Binance announced the launch of 24/7 Forex perpetual contracts, with the first product being the US Dollar/Brazilian Real (USDBRLUSDT), scheduled to go live on September 21, using USDT for settlement and offering up to 100x leverage.

The product will use a weighted index pricing from third-party data providers during traditional forex trading hours; on weekends and public holidays, it will adopt an order book-based pricing mechanism, pricing through the exponentially weighted moving average of order book prices to enable round-the-clock trading.

Binance stated that the 24/7 Forex perpetual contracts aim to break through the traditional forex market's weekend closure restrictions, providing traders with a channel for continuous exchange rate price discovery, hedging, and trading.