Binance Futures will launch SXP/USDT perpetual contract with up to 50x leverage

Binance has announced that they will soon be offering traders access to up to 50x leverage on the token SXP. In the announcement, the company stated that the SXP / USDT perpetual contracts will begin trading at 2020/07/21 09:00 AM and users will be able to select the leverage they want ranging from a minimum of 1x up to a maximum of 50x.

Binance has started to take a precautionary measure in order to ensure that there would no market manipulation post the launch of the Futures product. The platform would be implementing a “pricing limit of ±1% on the mark price” within the first 15 minutes of post-trading. This move may have been a result of the exchange being drawn to the drastic price rise of certain cryptos, after announcing support for them on its platform.

Swipe is a crypto-fiat gateway that enables cryptocurrencies to be spent as fiat currencies in real time. Its mission is to “make crypto finance mainstream by connecting existing payment networks to cryptocurrencies”.

The Swipe Wallet enables users to buy and sell cryptocurrencies with fiat currencies, stablecoins, or other supported cryptocurrencies. Users may purchase supported cryptocurrencies with linked bank accounts and credit or debit cards.

The Swipe Visa card can be managed directly within the mobile application. Once the user has ordered the card, he may activate the card within the wallet and track its status. Users are able to view their card numbers and history by either tapping on the card or on relevant transactions. The card includes security options including freezing or unfreezing the card, upgrading the card, viewing PIN numbers for ATM access, and viewing card numbers through in-app authentication.

Swipe is already available in 31 countries, mostly in the European Union, and currently supports transactions in major fiat currencies, including the U.S. dollar, euros and pound sterling.

As AZCoin News reported on July 7, Binance has acquired crypto Swipe.io that allows users to purchase items via a Visa debit card.

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