Binance launches 24/7 FX perps with weekend pricing system

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, Binance’s 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.Related: Binance brushes off Lagarde MiCA speculation, reaffirms Europe commitmentCrypto exchanges expand into foreign exchangeThe launch comes less than two weeks after Bybit introduced 24/7 perpetuals tracking EUR/USD, GBP/USD and ...