An illustration combining the Binance logo and cryptocurrency / Reuters-Yonhap
Global cryptocurrency exchanges are offering high-leverage perpetual futures linked to Korean chip stocks and the KOSPI, seeking new revenue streams as crypto trading volumes decline sharply, industry officials said Tuesday.
Binance, the world's largest crypto exchange, has been among the most aggressive players in the shift, rolling out a series of products. One of its products even gives investors exposure of as much as 150 times the move in the KOSPI.
On June 22, Binance listed KORUUSDT, a perpetual futures contract tied to KORU, a triple-leveraged KOSPI exchange-traded fund listed on the New York Stock Exchange. The product offers leverage of up to 20 times. Four days later, Binance added another KORU-linked product with leverage of as much as 50 times.
Perpetual futures, a staple of crypto trading, allow investors to speculate on the price of an asset without owning it. Unlike traditional equity products, they can be traded around the clock and often come with far higher leverage.
