Binance launches fiat perpetual contracts, starting with USD/BRL

TechFlow reports that on September 19, according to Cointelegraph, crypto asset exchange Binance announced an expansion of its derivatives matrix, officially entering the fiat currency (Foreign Exchange) trading market and launching 24/7 perpetual contracts. The first listed instrument is the US Dollar vs Brazilian Real (USDBRL), with trading scheduled to begin on Monday, September 21. The contract settles in USDT and offers leverage of up to 100x.

Unlike traditional FX markets that close on weekends, Binance's newly launched contracts enable 24/7 continuous trading. The platform has introduced a dual-mode pricing system: during regular foreign exchange trading hours, prices track a third-party weighted index, while on weekends and holidays, the system switches to an order-book-based pricing mechanism.

Shunyet Jan, Head of Trading at Binance, noted that this initiative aims to extend price discovery beyond traditional trading days, empowering traders with round-the-clock risk management and position-holding capabilities. Other institutions are already positioning themselves in this space; for example, Kraken was among the first to launch perpetual contracts covering multiple currencies such as the euro and British pound in April 2025.