Binance the exchange founded in 2017 has today gave a quick glimpse of their plans to launch options trading on the platform.
A tweet made by the official Binance Twitter account today shows a picture of what appears to be patch notes of a future update. Within the patch notes support for options trading is mentioned.
Binance CEO ‘CZ’ also posted a screenshot from the Binance mobile app with an options trading tab shown.
With this prospective launch Binance will join a handful of other crypto exchanges to launch options trading such as Deribit and FTX.
Some have however pointed out a hypocrisy within this future launch. Only recently Binance made the decision to delist a number of leveraged tokens. These leveraged tokens were created and popularized by previously mentioned exchange FTX. These leveraged tokens would allow users to gain leverage on a number of coins so a 1% gain in a certain altcoin would increase the value of the altcoin by up to 10%. The same was true of losses however.
Binance undertook the decision to remove these tokens citing that they were too risky, and that FTX had not created enough informational material for Binance users.
The decision to remove leveraged tokens contradicts the launch of options trading which are a much more complex and risky financial instrument.