Cryptocurrency derivatives platform Delta Exchange now offers put and call options contracts settled in the stablecoin tether (USDT).
- Calling the news an industry first, the Singapore-based firm also said Thursday it's one of just four crypto exchanges to offer a full order book for puts and calls.
- Options contracts give holders the right to buy or sell the underlying asset at a set price on a set date in the future.
- Unlike futures, a holder of an options contract is not required to buy or sell the asset if they choose not to do so – hence the name.
- Delta Exchange CEO Pankaj Balani said the options market is an "integral part" of the derivatives ecosystem and he expects daily turnover on his platform to surpass futures demand in the next six to nine months.
- The new call and put options, which are expected to attract retail and institutional traders alike, are available from today.