Binance launches 24/7 FX perpetuals with USDBRLUSDT contract

Binance is expanding its derivatives offering into foreign exchange with the launch of 24/7 perpetual futures. The US dollar-Brazilian real contract will begin trading on Monday and will go live as the USDBRLUSDT contract on Sept. 21. The contract will settle in USDT and offer up to 100x leverage, according to a Friday announcement. Unlike traditional FX markets, which close on weekends, Binance's contracts will trade continuously. During regular FX trading hours, prices will track a weighted index from third-party data providers. During weekends and public holidays, prices will use an orderbook-based mechanism. Binance said the weekend system uses an exponentially weighted moving average of orderbook prices rather than external price feeds. Binance trading head Shunyet Jan said the contracts are intended to extend price discovery beyond traditional FX trading hours and give traders a venue to hedge or take positions around the clock. The launch follows Bybit's introduction of 24/7 perpetuals tracking EUR/USD, GBP/USD and USD/JPY less than two weeks earlier. Bybit's contracts are also settled in USDT and offer up to 100x leverage. Kraken launched FX perpetuals tracking the euro, British pound, Australian dollar, Japanese yen and Swiss franc in April 2025, with up to 50x leverage. Kraken had offered spot FX trading since 2020 and reported $5.7 billion in FX spot volume in the first part of 2025. The products give crypto traders exposure to currency movements without owning the underlying currencies. Global over-the-counter FX turnover averaged $9.6 trillion a day in April 2025, according to a Bank for International Settlements report.