Binance CEO Changpeng Zhao has just delivered his keynote speech at the 2nd Annual Asia Blockchain Summit 2019 and has made an exciting announcement. As per CZ, Binance will soon offer futures trading for cryptocurrencies on the platform.
— Binance (@binance) July 2, 2019
Futures contracts or futures trading is one of the most used investment modes in traditional assets like stocks, commodities, and forex. Though a few traditional institutions have started offering the service in the crypto space, the industry largely remains underserved. However, Binance’s foray in this genre of investment modes could ramp up things significantly.
Binance Exchange is the biggest cryptocurrency exchange in the world and has been among the most genuine and secured ones. The word coming from CZ means that the company has done extensive research on the subject and is well equipped for offering these services.
The Asia Blockchain Summit is among the biggest of its kind in the world. The 2nd Annual ABS 2019 is taking place in Taipei, Taiwan, on 2nd and 3rd July. Being the leading blockchain that Asia is, all the big names in the industry are expected to attend the summit, making important announcements for the future.
While his speech CZ admitted that when BNB went for the ICO, it was the highest-pressure period for himself. He said,
BNB price dropped under ICO price for three weeks. Highest pressure period of my life. I took my own money and bought some BNB to stop the fall, but it didn’t work too much.
However, things have gotten better for Binance Chain, Binance Exchange, Binance DEX, and the BNB Token substantially. In fact, steadily, Binance DEX is gaining popularity, and recently, it completed a single transaction worth $1.2 billion in just 1.1 seconds, and just for a fee of $0.015.