Binance, arguably the world’s largest cryptocurrency exchange by trading volume will in a few weeks launch a futures platform according to an announcement made earlier today by CEO, Changpeng Zhao.
Zhao revealed the development as part of his presentation at the ongoing Asia Blockchain Summit in Taipei, showing the audience a sneak preview of the upcoming crypto futures platform.
More precisely, the interface which CZ presented to the audience reveals long and shorts options for trading crypto assets while also featuring the BTC/USDT pair, which is expected to be the first option available to traders when the platform goes live.
CZ, however, did not give away the exact date on which traders can expect to have the futures trading contracts on Binance. Instead, he said,
“Binance will be launching a futures platform very soon. I don’t have the exact date yet. The simulation test version will be live in a few weeks.”
Alluding to the possible timeline provided, a Binance spokesperson also reportedly told Coindesk that the futures trading platform could come sooner rather than later.
The unnamed official confirmed that the testnet for the futures trading platform would come a week after Binance finally rolls out margin trading to all qualified users on July 11.
In essence, we could see Binance crypto futures launching before the development of Binance US, the United States-focused subsidiary which the exchange plans to roll out later this year for regulatory reasons.
Meanwhile, it would be fair to note at this point that the impending launch of crypto futures trading on Binance was not entirely unexpected. Back in February, Stmarket.co reported CEO Changpeng Zhao as saying that they were working on it and could even open a security tokens trading platform in the future.