Binance Expands Offerings with Scroll (SCR) on Multiple Platforms

Binance, a leading cryptocurrency exchange, has announced the addition of Scroll (SCR) to its extensive range of products and services. This integration will see SCR available on Binance Simple Earn, Buy Crypto, Convert, Margin, Auto-Invest, and Futures, according to Binance.

Simple Earn and Buy Crypto

Starting from October 23, 2024, users will be able to engage with SCR via Binance Simple Earn and purchase SCR through various payment options, including VISA, MasterCard, Google Pay, and Apple Pay. These options will become available within an hour of SCR’s listing on Binance Spot.

Convert and Margin Trading

SCR will be accessible for trading against BTC, USDT, and other tokens on Binance Convert, with zero fees applicable. Additionally, SCR will be introduced as a borrowable asset for both Cross and Isolated Margin trading, featuring pairs such as SCR/USDT and SCR/FDUSD, effective from October 22, 2024.

Futures Market

Binance Futures will launch the USDⓈ-M SCR Perpetual Contract, offering leverage up to 75x, beginning October 22, 2024. The contract will include a maximum funding rate of +2.00% / -2.00% and a funding fee settlement frequency every four hours.

Market Impact and Considerations

The integration of SCR into these diversified trading options reflects Binance’s commitment to expanding its range of supported cryptocurrencies. The move is expected to enhance liquidity and provide users with greater flexibility in their trading strategies. However, users should be aware of the inherent risks associated with cryptocurrency trading, as highlighted in Binance’s risk warnings.

The addition of SCR to Binance’s platforms comes amid a broader trend of cryptocurrency exchanges expanding their offerings to cater to a growing market demand. This strategic inclusion not only broadens Binance’s portfolio but also provides users with increased opportunities to engage with diverse digital assets.

Image source: Shutterstock