Binance, one of the leading cryptocurrency exchanges globally, has announced its forthcoming introduction of XRP/USDT Options on its Binance Options RFQ platform, scheduled to go live on Monday, March 11. The announcement, made through an official statement on the Binance website today, aims to broaden the range of trading opportunities available to users, specifically focusing on XRP, currently ranked as the sixth most valuable cryptocurrency.
Binance’s decision to introduce XRP-based options trading underscores its commitment to providing diverse trading options for its users. By offering XRP/USDT Options on the Binance Options RFQ platform, the exchange aims to enhance users’ trading experience by providing access to a wider array of financial instruments.
Binance options RFQ: A platform for institutional-grade liquidity
The XRP/USDT Options will be facilitated through Binance Options RFQ, “Request for Quote.” This platform lets users directly request quotes for options trades from the Binance OTC Trading Desk. Notably, the service ensures institutional-grade liquidity, enabling users to execute large-sized options trades over the counter at competitive prices and without fees.
The upcoming XRP/USDT Options will be European-style options contracts, differing from American-style options. European options can only be exercised at expiry but are tradable at the current market price before expiry. This feature offers traders flexibility while managing their positions.
Risk advisory and terms of engagement
Binance has issued a cautionary note regarding the risks associated with options trading, emphasizing the potential for significant gains and losses. The maximum loss for the buyer of an option is limited to the premium paid to acquire the option. Users engaging in Binance Options trading will be subject to the terms outlined in the Binance Options Service Agreement.
Despite Binance’s announcement of the forthcoming XRP Options trading services, the news has not significantly impacted the price of XRP. At the time of reporting, XRP is trading at $0.6176, experiencing a minor decline of 1.23%. This downward trend has been further accentuated within the past few hours following Bitcoin’s slight retracement.
From Zero to Web3 Pro: Your 90-Day Career Launch Plan
