Bybit Launches Crypto Options Trading
Singapore-based digital asset exchange – Bybit – has expanded its services, enabling crypto options trading. At launch, users will be able to trade USDC and perpetual options through Portfolio Margin, which uses a risk-based model for experienced investors to increase fund utilization on the underlying price and volatility.
Bybit’s new feature
According to the document shared with CryptoPotatothe feature will allow Bybit customers to speculate on the future price of an underlying digital asset and settle transactions in USDC.
Option contracts differ from futures contracts, where a trade is binding and must be finalized on the settlement date. The risks for traders when employing the former are relatively low as they are determined by the premium paid, whereas there is no such barrier for futures contracts.
Bybit’s new opportunity is meant to help the platform in its mission to become a fully integrated trading platform with a user-friendly interface.
Ben Zhou – co-founder and CEO of Bybit – noted that crypto options trading has been a very intriguing feature for clients “since there hasn’t been any other breakthrough product offered in the market for the moment”.
“We are confident that our cutting-edge offering will set the bar for the industry and normalize crypto options trading, much like what Robinhood has done for stock options,” the executive concluded.
Bybit is catching up with the big players
Established in 2018, Bybit already has over 2 million registered users. Last year was quite active for the company as it released several new features and signed partnerships with well-known names.
In November 2021, he signed an agreement with the Argentine Football Association (AFA) and became the world main sponsor of the Argentina national football team. Moreover, Leo Messi (the national team captain) and his teammates will wear the company logo on their training clothes until November 2023.
Earlier this year, Bybit dipped into the world of non-fungible tokens by launching an NFT marketplace. Unlike other platforms, customers were allowed to trade digital collectibles directly from their cash accounts.
“We are excited to provide a top-notch NFT platform for Bybit users to participate in creating a new marketplace and a new world called Metaverse,” Zhou commented.
Soon after, the company shook hands with Formula 1 team Red Bull. Thus, Bybit became the main partner of the racing team. He is committed to supporting Red Bull’s NFT efforts, promoting fan tokens, and providing financial inclusion for women in the blockchain industry.
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