Top-tier crypto exchange platform Binance is reportedly planning to further its crypto trading portfolio, via making a new European-style Bitcoin (BTC) options contract available. 

Specifically, the release was reportedly finalized after a testing phase conducted in November this year was done successfully. 

As included in the development, Binance reportedly deemed the rising interest towards BTC options has been the driving factor for its initiative to roll out the new solution. 

In December 2020, Bitcoin options reportedly surpassed the $1 billion benchmark for the first time, with overall open interest almost hitting the $6 billion mark.

Head of Binance, Changpeng Zhao, reportedly stated regarding the release, claiming that Bitcoin has recently achieved the $28,000 threshold, highlighting the rising investment level poured into the crypto sector. 

“The crypto industry’s growth is in good part attributable to a combination of factors, including wider public education and institutional interest, innovation in DeFi protocols and smart contracts, and development of a robust derivatives market.”

In April this year, Binance was reportedly among the entities making Bitcoin options trading available, following the release of its American-style BTC options contracts.

The most distinctive distinguishment between the American and EU options is reportedly where traders can carry out the latter exclusively when the contract expires. 

The development for the European BTC options is reportedly the most recent initiative from Binance in a December full of announcements. Previously, Binance also shared that it will start rolling out supporting features for Segregated Witness (SegWit), regarding Bitcoin deposits.