Binance Futures Rolls Out Perpetual Contract for XRP

Binance Futures, the digital currency exchange’s futures trading platform, has launched a perpetual contract for the XRP digital currency. 

The contract, paired against Tether (USDT), provides leverage of up to 75 times, as indicated by a January 6 statement.

The XRP/USDT contract seems to be the first kind of contract from a big exchange. As of now, smaller Delta and BaseFEX exchanges provide XRP perpetual contracts.

The Binance Futures platform went live last September and right now provides three additional contracts—bitcoin (BTC), ether (ETH), and bitcoin cash (BCH)—all tied against USDT.

The platform provides maximum leverage of up to 125 times. Binance CEO Changpeng “CZ” Zhao earlier stated that the leverage was expanded because of growth in institutional participation. “These professional traders seek out the most efficient ways to trade very quickly, both in terms of cost and performance,” stated CZ.