Cryptocurrency giant Binance will expand its cryptocurrency trading catalog with the launch of a European-style Bitcoin option contract (BTC).

The launch was announced on December 28, after successful network testing in November. The press release also states that a new options contract will be priced and settled at Tether (USDT).

As part of the announcement, Binance identified the growing desire for BTC options as the reason for the launch of the new product. Earlier in December, Bitcoin options crossed $ 1 billion for the first time, totaling open interest rates close to $ 6 billion.

Commenting on the launch, Changpeng Zhao, Binance CEO, noted that Bitcoin recently reached $ 28,000, highlighting the growing investment in the crypto space, adding:

“The growth of the crypto industry can be largely attributed to a combination of factors including broader public education and institutional interest, innovation in DeFi protocols and smart contracts, and the development of a strong derivatives market.”
Back in April, Binance joined an expanding group of exchanges launching Bitcoin options with the launch of BTC options contracts in the United States. The main difference between the US and European formats is that traders can only use the latter after the contract has expired.

Binance’s previous iteration of Bitcoin Options has also been criticized for being one-sided, as users were unable to “write” the options and fix the premium. As a result, Binance options were usually more expensive due to the inability to judge.

The European BTC Options announcement is Binance’s last post for the busy month of December. As Cointelegraph previously reported, the exchange recently started offering Segregated Witness or SegWit support for Bitcoin deposits.

Source: CoinTelegraph