Binance is expanding services in Australia; new perpetual contracts from Binance Futures

As AZCoin News reported, CZ and Binance have pledged to thrive and have more projects in 2020. In the early days of the year, Binance is always announcing many new improvements. And most recently, information Binance is expanding services in Australia through cooperation with fintech company Banxa. Besides, Binance Futures also announced that they would list futures contracts with many new cryptocurrencies with leverage of 75x.

Binance expands in Australia

To provide investors and traders a quick way to trade cryptocurrencies, Binance has officially grown in Australia. Banxa has been the operator of cryptocurrency exchanges in Australia and abroad since 2014. It provides a bridge between legacy financial systems and cryptocurrencies by allowing the exchange of cryptocurrencies, wallets, and wallets. And related platforms to provide instant cryptocurrency conversion. Users can choose from several different payment methods: bank transfer, bill payment, retail payment, credit, and debit cards.

Users can now buy cryptocurrencies directly on Binance.com in Australian dollars (AUD), Euros (EUR), and pounds sterling (GBP).

However, at present, Binance needs to address local regulations. For customers, the process of converting paper money into cryptocurrencies is expected to be as user-friendly as possible. As space expires, both goals are looking for more productive and practical solutions.

Referring to this, the CEO of Binance, CZ, said:

“We believe fiat will co-exist with crypto for a long time to come. More than 99.9% of the global money supply is still in fiat, and we need to continue building bridges to enable easier flow into crypto. In 2020, we aim to add support for all 180 fiat currencies. Banxa is a partner who shares our mission of making cryptocurrency accessible to people around the world.”

Binance Futures launches perpetual contracts with up to 75x leverage

On 06/01, Binance Futures announced the listing of XRP futures contract with the leverage for XRP/USDT trading pair is 75x, along with the expansion of permanent swaps for five major cryptocurrencies – Bitcoin, Ethereum, Bitcoin Cash, XRP and EOS.

After that, Binance Futures continued to announce that it will launch its fifth and sixth permanent contracts, EOS/USDT and LTC/USDT, with a similar 75x leverage.

The EOS/USD perpetual contract is opened on January 8, 2019, at 08:00 AM (UTC). Meanwhile, LTC/USDT will open trading at 08:00 AM (UTC) on January 9, 2020.

Like XRP, Litecoin prices have also increased significantly, nearly 17% in the past seven days. LTC price has increased from $ 41.97 to $ 47. At press time, LTC price is fluctuating around 47.81%, up nearly 6% in the last 24 hours. EOS also increased slightly to approximately 3% during the day, recording a price of $ 2.91.

According to Willy Woo, Litecoin is having difficulty recovering. A significant development could pave the way for the breakout of this coin. Moreover, LTC’s breakthrough could contribute to the positive impact in the Bitcoin market.

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