Cryptocurrency News Today – Headlines for June 12

Binance Set-Up Business in 'blockchain-friendly' Bermuda Island
  • Binance Holding LTD launches its quarterly settled Bitcoin Futures contracts
  • Binance is rapidly expanding its tentacles in all aspects of crypto trading
  • Contracts will be accessible on Binance’s Futures web trading interface

Cryptocurrency News Today – Binance Holding Limited, the entity behind the world’s largest digital currency exchange by trade volume, Binance Exchange, has announced the launch of its quarterly settled Bitcoin Futures contracts. The contracts will come with a fixed settlement and expiration dates.

The exchange has continued in its expansion agenda by adding this latest endeavor to its suite of crypto derivatives products just months after launching a Bitcoin perpetual trading network. The announcement came to light via a blog post on June 11.

According to data from Skew (a cryptocurrency analytics platform), the trading volumes from Binance’s Futures platform are one of the highest around the globe which means the exchange is liquid. Note that the settlement for Bitcoin Perpetual Futures remains in Tether’s USDT.

Binance is Expanding its Cryptocurrency Trading Options

Binance has aggressively expanded its tentacles into nearly every facet of crypto trading. In fact, since successfully launching in 2017 after an outstanding ICO (Initial Coin Offering), the world’s largest exchange has changed bases following China’s ban on crypto trading. Binance Exchange’s headquarters is now located in Malta with the platform offering services in the United States and the rest of the world.

The launch of its Quarterly Bitcoin Futures is another impressive milestone for the exchange as it continues to enter the futures trading sector. Binance now competes with BitMex in futures trading. BitMex is the pioneer cryptocurrency futures derivatives platform. Binance is also competing with Huobi for market shares. A weekly settled Bitcoin Futures contract will depend on how the product is received. According to Skew, there is currently a $140 spread between BitMex and Binance’s end of September settled Bitcoin Futures contracts for this year.

Binance’s Quarterly Bitcoin Futures

The Quarterly Bitcoin Futures contracts are going to be settled in BTC offered with about 125X leverage. Contracts will be made available on Binance’s Futures trading interface. However, the mobile version will be launched later. The futures contracts will expire on the final Friday of the three-month corresponding/scheduled period.

The initial set of contracts will expire in 2025, September 25. They are labeled as BTC/USD Quarterly 0925. During an interview, the CEO of Binance Exchange, Changpeng Zhao, who recently became a Billionaire, remarked that:

Binance has perpetual futures, so the network wanted to move from longer-term to shorter-term. We have many users who trade in futures on other platforms that offer delivery futures. They are requesting that we launch delivery futures which will allow them to trade in one place. We always launch products that are relative to user demands.”

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.