Cross Collateral Now Available on Binance Futures

Cross Collateral Now Available on Binance Futures

Binance has launched a new “Cross Collateral” feature on their futures service which traders can make use of immediately.

The way the new feature functions is by combining Binance Futures with another element of their service, the Binance Exchange Wallet. Via doing so it will allow users to use the funds which they store in their wallet as collateral. This means that when putting forward collateral the need to sell any coins will be eliminated. The new feature rolled out yesterday and went live with the initial option being the chance to borrow USDT at 0% interest by using any of Binance’s own stablecoin, BUSD, as collateral without needing to transfer the BUSD beforehand into their futures wallet.

Aaron Gong, Director of Binance Futures, described the features as a “much-anticipated” one which will “allow more flexibility and more choices of deposits to open futures positions,”. Before outlining that the option for BUSD will be just the first example of Cross Collateral options that will be made available and that the platform “will introduce additional accepted tokens in the near future.” As such, this is just the beginning for the feature and there will be plenty of different ways to utilise it on any other the 13 different tokens the platform currently offers.

News of this new option comes in the wake of plenty of other new features that have been being added to the platform, such as Isolated margin trade as well as Binance adding plenty of other trading possibilities via their futures service. One of the biggest USPs of the service though is the 125x Leverage on BTC contracts. It will be exciting to see what other options and features will be offered by Binance Futures in 2020 as it definitely seems like they are heavily focusing on that this year.

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