Binance futures launches the USD-M Binance Football Fan Token Index. The newly launched Football Fan Token Index perpetual contracts provide up to 25x leverage. Binance’s announcement affects around 10 altcoin projects. Here are the details…
Binance announced a new altcoin
Binance, the world’s largest cryptocurrency exchange by trading volume, made an announcement for fan tokens. Binance’s announcement included the following statements:
Binance Futures will launch USDⓈ-M Binance Football Fan Token Index perpetual contracts (“FOOTBALLUSDT Perpetual Contracts”) with up to 25x leverage on September 1, 2022 at 06:00 CEST. The Binance Football Fan Token Index is a new cryptocurrency price index that tracks the top Football Club Fan Tokens listed on Binance Spot by market cap.
Binance also writes that the exchange can adjust properties of contracts such as “tick size, maximum leverage, initial margin and/or maintenance margin requirements.” The FIFA world cup will be held in Qatar from 20 November to 18 December 2022. Some cryptocurrencies that will be affected have been bullish in the last 24 hours. Below you can see the impacted altcoins and their bullish percentage over the last 24 hours:
- Santos FC Fan Token (SANTOS): 8.8 percent
- FC Porto Fan Token (PORTO): 17.3%
- SS Lazio Fan Token (LAZIO): 29.7 percent
- Paris Saint-Germain Fan Token (PSG): 5 percent
- FC Barcelona Fan Token (BAR): 5.2 percent
- Manchester City Fan Token (CITY): 4.7 percent
- AC Milan Fan Token (ACM): 1.5 percent
- Atletico De Madrid Fan Token (ATM): 6.3 percent
- AS Roma Fan Token (ASR): 3.3 percent
- Juventus Fan Token (JUV): 7 percent
The latest developments in the Binance ecosystem
As we reported as Kriptokoin.com, Binance runs various licensed operations in Abu Dhabi, Dubai and other regions. It showed its presence among Middle East investors. It targets efforts in the mainstream corporate sector of the United Arab Emirates (UAE). The exchange has partnered with Virtuzone, allowing new entrepreneurs to repay their loans using cryptocurrencies. So Virtuzone has integrated Binance Pay into its payment gateway. Thus joining the list of main businesses in the UAE such as JA Resorts and Hotels and Majid Al Futtaim that accept cryptocurrencies.
On the other hand, Binance Australia presented a long list of Environmental, Social and Governance (ESG) commitments under a universal framework developed by the World Economic Forum (WEF). Thus, as part of its ESG commitment, Binance will protect vulnerable users. Also, as part of Binance’s efforts, it is expected to strengthen the recruitment process for people with disabilities and the elderly, as well as anyone living in rural areas.
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