Binance Adds Bitcoin Futures to its Derivatives OfferingsAuthor: Ali RazaLast Updated: 29 July 2020 Binance has recently allowed its clients to leverage a new crypto derivative product. One of the biggest cryptocurrency exchanges has recently launched its iteration of the Bitcoin futures, leveraging a fixed settlement period.Responding TO Public DemandChangpeng “CZ” Zhao, the CEO of Binance, went to the press about the matter at large. He explained that introducing futures offerings with a fixed settlement date stands as part of the broader strategy of the exchange itself. He gave this statement to Bloomberg, in particular. This new quarterly future contract is set to expire on the final Friday of every period, set to be three months. The contract itself will be settled via Bitcoin. As it stands now, the futures contracts Binance offers is labeled BTCUSD Quarterly 0925. In other words, the latest futures contract is set to expire on the 25th of September, 2020, at 08:00 AM UTCZhao went further, explaining that the choice of launching the latest derivatives products is primarily driven by demand from the platform’s users. He explained that Binance already holds perpetual futures contracts, but felt the need to expand into a shorter-term market, as well. He stated that Binance sees a lot of its clients doing futures trading on other platforms, and claims these clients asked Binance to launch their own delivery futures, in a bid to centralize their trading.Not Quite Yet For MobileAs it stands now, this new product offering is only available to users leveraging the desktop version of web trading interface, Binance Futures, according to a blog post the firm had made. However, the post made it clear that the mobile version was already in the process of development, and is planned to be rolled out on a later point in time.Up to 125x LeverageAccording to the announcements, clients will be capable of leveraging a leverage of 125x on this new product, which has been officially dubbed the BTCUSD Quarterly Futures contracts. Binance had stated that users would be capable of enjoying taker fees standing as low as 0.020%, as well as receive maker fee rebates for 30 days, as a part of the offering’s launch. It should be noted, however, that this only applies if traders do business within the time frame of 08:00 AM UTC, on the 11th of June, 2020, all the way to the 10th of July, 2020, at 08:00 AM UTC.Binance has been on a tad of a backfoot when it comes to futures contracts. Its top competitors, Huobi Global and Kraken, have already been offering a range of futures contracts, doing so for multiple durations.