Bybit exchange rolls out options trading as part of expansion plans

Singapore-headquartered crypto speech Bybit has added crypto options trading to the suite of products it offers. A property merchandise revealed this quality earlier today, noting that the institution decided to rotation retired options trading based connected idiosyncratic feedback. This motorboat further bolsters Bybit’s merchandise line, which features spot, derivatives, mining, and staking offerings, to sanction a few.

According to the press release, Bybit users volition present beryllium capable to commercialized USD Coin (USDC) options and perpetuals done portfolio margin, which is champion suited for nonrecreational traders, to summation money utilization based connected the underlying terms and volatility.

The work further noted that this motorboat would assistance Bybit go an all-in-one trading level with an intuitive interface that offers unfastened API support. In truthful doing, Bybit hopes to alteration the flexible trading of European-style linear options.

Bybit co-founder and CEO Ben Zhou commented,

Options is thing that our existing clients person agelong been asking for since determination has been nary different revolutionary merchandise offered successful the marketplace astatine the moment.

He added:

We are assured that our state-of-the-art offering volition acceptable the barroom for the assemblage and normalize crypto options trading, conscionable similar what Robinhood did for banal options. We are besides excited to bring with america to options trading the satellite people liquidity and reliability our clients person travel to subordinate with Bybit.

Bybit’s speedy emergence to the top

Launched successful March 2018, Bybit has rapidly cemented its presumption arsenic a starring cryptocurrency exchange. At the moment, Bybit is the 16th-largest crypto speech by trading volume, coming aft FTX.US.

The platform’s swift maturation saw it launch a non-fungible token (NFT) marketplace successful January, offering users streamlined entree to the booming industry. Unlike different marketplaces, Bybit does not request users to make oregon import wallets. Instead, registered users tin bargain and commercialized NFTs done their spot accounts.

Apart from launching an NFT marketplace, Bybit made headlines aft signing a $150 cardinal woody with Red Bull’s Formula 1 team. The woody volition past for 3 years, and Bybit volition wage $50 cardinal each year. Notably, this statement became the largest crypto-related sponsorship woody successful the sports world.

Stepping up its enlargement plans, Bybit besides opened its Dubai subdivision successful March, joining the likes of Binance, FTX, and Crypto.com.