Binance has revealed plans to roll out XRP/USDT Options on its Binance Options RFQ platform, scheduled to commence operations on Monday, March 11.
This strategic initiative aims to diversify trading opportunities for users, enhancing their overall trading journey. The Binance Options RFQ, abbreviated for Request for Quote, empowers users to solicit quotes for options trades directly from the Binance OTC Trading Desk, ensuring access to institutional-grade liquidity for executing substantial trades without fees and at competitive rates.
Concerning the XRP/USDT Options contract, these novel options will adopt a European-style approach, differing from American-style options by permitting exercise solely at expiry.
Nonetheless, they remain tradable at prevailing market prices until the expiration time, providing traders with increased maneuverability in their trading strategies.
Binance has underscored the inherent risks associated with options trading, underscoring the potential for significant gains coupled with substantial loss risks.
The maximum loss for an options buyer is restricted to the premium paid for the option. Traders venturing into options trading on Binance will be obligated to consent to the terms delineated in the Binance Options Service Agreement.
Despite the unveiling of the new XRP/USDT Options, the announcement has had a negligible impact on the XRP price. Presently, XRP is exchanging hands at $0.6207, representing a marginal 0.04% downturn.
This slight downturn follows a retracement in the price of Bitcoin, which presently stands at $68,177, as per Coinmarketcap’s latest data.
