Binance Introduces New Vanilla Bitcoin Options
Binance Introduces Simplified Bitcoin Options
With the new product, exchange users will be able to act as issuers
According to the head of Binance, the growth of bitcoin above $ 28,000 was the result of persistent development of new products.
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Binance Crypto Exchange Introduces New Tool For Diversifying Investment And Trading Portfolio
Crypto exchange Binance has developed new European-style simple Bitcoin options pegged to USDT stablecoin. This was announced in a press release received by the editorial staff of BeInCrypto. With new options, exchange users can also act as issuers.
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“Vanilla” or simple options function more simply than “exotic” ones. Binance options are often referred to as “exotic” when compared to binary options due to their short-term nature.
Holders of new options will only be able to exercise them on the expiration date of the contract, Binance said..
Institutional clients require a wide range of financial instruments, and the company hopes that the new options will optimize the liquidity management process for them. The head of Binance Changpeng Zhao said that the recent growth of bitcoin above the $ 28,000 level only confirms the effectiveness of developments in this direction..
Read also: Deribit Bitcoin Options Open Interest Reaches $ 1 Billion
Binance first launched US-style options in April 2020. Unlike European options, American options can be exercised at any time before they expire. European options are better protected from volatility as traders can only sell them at a specified price within an agreed timeframe.
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Options in the cryptocurrency market are in great demand. So, for example, back in the first quarter of 2020, the Chicago Mercantile Exchange (CME) announced the launch of bitcoin options. At the same time, JP Morgan analysts came to the conclusion that with the advent of new instruments, institutional interest in contracts will only increase..
Why bitcoin futures and options have become a new trend in the cryptocurrency market – read in a special material from BeInCrypto.
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