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Scott Melker discusses the convergence between major crypto exchanges like Binance that are building 24/7 options trading markets.
“The Daily Wolf with Scott Melker” airs every day at 12:00 p.m. Tune in for your daily dose of all things crypto.
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Binance ads options on a thousand US stocks and ETFs as monthly tradfi perpetual volume hits 433 billion dollars. So, I’ve long told you about the story that we basically have two converging forces that will meet in the middle to compete for who will be the everything app.
Right? I just told you about the New York Stock Exchange and the London Stock Exchange. Then of course, we have the Morgan Stanleys and Schwabs and all the major institutions, all coming into tokenization through the back door and coming into crypto through the back door and having limited access to this market.
On the flip side, you have all the crypto native companies like Kraken, who I just told you about with their X-stocks, and now Binance here, trying to add everything that TradFi already has. You can argue that Hyperliquid is somewhere in the middle because it’s blockchain rails and perpetual swaps on effectively all of these assets, right?
So Binance adding options, right? This isn’t tokenized stocks. Options on a thousand US stocks and ETFs is massive news. So eligible users can purchase calls and puts and receive the underlying shares when contracts are exercise. This is all through Binance’s Abu Dhabi regulated broker dealer, routed through US registered Alpaca securities for execution, clearing, settlement and custody.
Now I’m going to tell you something that’s going to shock you. This is not available to Americans.
I’ve heard me say this before, but if there’s one thing that I know about us in America when it comes to fun is we hate it. when it comes to financial markets. We can’t do anything.
And by the way, uh if you think you can do things in America, just go to New York because they can’t do anything fun for sports gambling and crypto. right? Uh but they can go to Times Square which I guess is nice for them.
Right, so listen, uh Binance already provides eligible international customers access to more than 7,000 US listed stocks and ETFs, but now, obviously, adding options is a huge, huge move and their volumes are absolutely insane. As it said there, Binance’s trad
Source: finance.yahoo.com