Earlier this morning Gemini, the cryptocurrency exchange owned and operated by the Winklevoss brothers, announced that they will be providing data to the Chicago Board Options Exchange (CBOE) in an effort to bring forth trading derivatives on cryptocurrencies.
The agreement between Gemini and CBOE is a massive step forward for the community, as it is likely that this move will bring cryptos into the mainstream financial world. The CBOE is the world’s largest options exchange, so for them to adopt options on cryptocurrencies is a big deal.
Although they are still seeking approval, it is expected that CBOE and Gemini will soon have it. So what does this mean for the crypto community?
Well, it should be a good thing. Mainstream adoption of cryptocurrencies has been the goal of most Bitcoiners for quite some time, and this is a step in that direction. The world’s largest options exchange is working to bring Bitcoin and likely other cryptos into their portfolio, which means that they see value in them.
By bringing in mainstream investors, like those who trade at CBOE, will likely spark an interest in those people, which will likely spark an interest in the mainstream. If the collaboration between CBOE and Gemini is a success, it would be expected that they won’t be the only major exchange supporting cryptocurrencies.