Binance is moving further into foreign exchange derivatives with a perpetual futures contract tracking the US dollar against the Brazilian real. Unlike traditional FX markets, which generally close over weekends and public holidays, the new product is designed to trade continuously.
The USDBRLUSDT contract is scheduled to go live on Sept. 21. It will be settled in USDT and offer leverage of up to 100x, according to Binance.
Dual pricing model supports weekend trading
During normal foreign exchange trading hours, the contract will use a weighted index based on prices supplied by third-party data providers. When those markets are closed, Binance plans to switch to an order-book-based pricing mechanism.
The exchange said its weekend and holiday pricing system will calculate an exponentially weighted moving average of prices on its own order book rather than relying on external FX price feeds. Binance’s head of trading, Shunyet Jan, said the product is intended to extend price discovery beyond conventional market hours and give traders a way to hedge or take positions around the clock.
Crypto exchanges expand into foreign exchange
Binance’s launch follows Bybit’s introduction of 24/7 perpetual contracts tracking EUR/USD, GBP/USD and USD/JPY less than two weeks earlier. Those contracts are also settled in USDT and offer leverage of up to 100x.
Kraken introduced FX perpetuals in April 2025 covering the euro, British pound, Australian dollar, Japanese yen and Swiss franc, with leverage of up to 50x. The exchange has offered spot FX trading since 2020 and reported $5.7 billion in spot FX volume during the first half of 2025.
These products allow cryptocurrency traders to gain exposure to currency movements without holding the underlying fiat currencies. The opportunity is tied to a large global market: over-the-counter foreign exchange turnover averaged $9.6 trillion per day in April 2025, according to the Bank for International Settlements.
