The world’s leading digital currency exchange in terms of trading volume Binance’s futures trading platform Binance Futures has announced to launch USD coin-margined perpetual contracts for two crypto assets which include the fourth-largest cryptocurrency XRP and Ethereum Classic (ETC). According to the official announcement made on September 7, 2020, these margined perpetual contracts are backed by the stablecoin USD Coin (USDC).
Margined Perpetual Contracts for XRP and ETC
Binance’s futures trading platform that offers users to open long and short positions along with leverage is going to introduce new margined contracts for Ripple’s cryptocurrency XRP and Ethereum Classic (ETC). Binance Futures will offer traders a leverage of up to 75x while allowing them to open short or long positions on these crypto-assets (base assets).
The trading for these two coin-margined perpetual contracts is set to begin on the 9th of September at 7:00 AM UTC as per the announcement.
Binance Futures added support for the major cryptocurrency XRP in the month of January 2020 and launched the Tether (USDT) stablecoin-backed perpetual contracts for the coin with a leverage of up to 75x. Binance Futures was the first major trading platform to launch perpetual contracts for XRP.
Binance Futures’ one-year anniversary is coming
This announcement of margined perpetual contracts for XRP and ETC has come on the time when the one-year anniversary of Binance Futures is going to occur on September 13. Binance launched its futures trading platform last year in 2019 on the 13th of September. Now, on the coming Sunday, it will turn one. During this whole year since the date of its launch, Binance Futures has gained massive attention in the market as its parent company Binance has a wider user base.
Binance, on the other hand, is continuously making new developments. Recently on Sunday, the leading digital currency exchange announced the launch of Launchpool a new product for yield farming digital assets. The product will allow users to stake Binance’s BNB token, BUSD, and other tokens for earning token rewards.