Overview
- Binance announced on Friday that its first FX perpetual, USDBRLUSDT, will go live Monday, September 21, 2026 at 14:00 UTC and will settle in Tether’s USDT.
- The contract allows up to 100x leverage, charges funding every eight hours with a ±0.375% cap, and has no expiry so positions can remain open as long as margin rules are met.
- To support round‑the‑clock trading Binance will use a weighted third‑party price index during normal FX market hours and switch to an orderbook‑based exponentially weighted moving average on weekends and public holidays.
- Binance says trading and clearing will operate through ADGM‑regulated Nest Exchange and Nest Clearing and Custody, and availability will be restricted by jurisdiction and account eligibility.
- Analysts and coverage warn the design raises sharp risks: high leverage amplifies liquidation danger, weekend orderbook pricing can diverge from deep interbank quotes, and USDT settlement concentrates stablecoin counterparty risk even as exchanges press continuous access to a multi‑trillion dollar FX market.