Deribit To Offer SOL, XRP, and MATIC

Deribit To Offer SOL, XRP, and MATIC

Time Stamp: October 9, 2023 10:14 AM
Deribit To Offer SOL, XRP, and MATIC PlatoBlockchain Data Intelligence. Vertical Search. Ai.

Deribit is planning to introduce options contracts for three
major altcoins. In January, the cryptocurrency exchange for options will offer
options trading for Solana’s SOL, Ripple Labs’ XRP, and Polygon’s MATIC token.

This expansion, as reported by Bloomberg, is part of
Deribit’s strategy to diversify its product portfolio despite the uncertain
market conditions. Additionally, the crypto exchange is preparing to apply for
a brokerage license within the European Union, with the aim of establishing a
stronger presence in the region.

While there has been a decrease in crypto derivative trading
volumes in recent months, dropping from about $2 trillion at the start of the
year to around $1.5 trillion in September, Deribit remains optimistic. These
challenges have been worsened by lower crypto prices and reduced volatility
compared to the highs experienced in 2021.

Deribit’s expansion represents a notable shift from its
previous focus on major tokens like Bitcoin and Ether. Besides that, the
Panama-based exchange plans a strategic move to Dubai, known for its
crypto-friendly regulatory environment, once it secures the necessary
licensing.

Market experts and traders are anticipating the launch of
Ether futures exchange -traded funds (ETFs) and potential approval from U.S.
regulators for spot Bitcoin ETFs. These developments could boost volatility in
the crypto market.

Deribit’s existing products include options and perpetual
futures linked to Bitcoin and Ethereum. These offerings have garnered
significant popularity among traders using them for portfolio hedging and
speculating on market volatility . In September, Deribit held a dominant
position, accounting for 86% of the global crypto options market.

Strengthening Institutional Offerings

In addition, the crypto exchange has forged significant
partnerships in the industry. Last month, it partnered with Talos, a provider
of institutional digital asset trading technology, to enhance options trading
for institutional clients.

Anton Katz, the CEO and Co-Founder of Talos, said: “We
are thrilled to join forces with Deribit to offer high-performance crypto
options trading to our diverse range of institutional clients. Options are an
important instrument for institutions to access and manage their exposure to
digital assets.”

Deribit is planning to introduce options contracts for three
major altcoins. In January, the cryptocurrency exchange for options will offer
options trading for Solana’s SOL, Ripple Labs’ XRP, and Polygon’s MATIC token.

This expansion, as reported by Bloomberg, is part of
Deribit’s strategy to diversify its product portfolio despite the uncertain
market conditions. Additionally, the crypto exchange is preparing to apply for
a brokerage license within the European Union, with the aim of establishing a
stronger presence in the region.

While there has been a decrease in crypto derivative trading
volumes in recent months, dropping from about $2 trillion at the start of the
year to around $1.5 trillion in September, Deribit remains optimistic. These
challenges have been worsened by lower crypto prices and reduced volatility
compared to the highs experienced in 2021.

Deribit’s expansion represents a notable shift from its
previous focus on major tokens like Bitcoin and Ether. Besides that, the
Panama-based exchange plans a strategic move to Dubai, known for its
crypto-friendly regulatory environment, once it secures the necessary
licensing.

Market experts and traders are anticipating the launch of
Ether futures exchange -traded funds (ETFs) and potential approval from U.S.
regulators for spot Bitcoin ETFs. These developments could boost volatility in
the crypto market.

Deribit’s existing products include options and perpetual
futures linked to Bitcoin and Ethereum. These offerings have garnered
significant popularity among traders using them for portfolio hedging and
speculating on market volatility . In September, Deribit held a dominant
position, accounting for 86% of the global crypto options market.

Strengthening Institutional Offerings

In addition, the crypto exchange has forged significant
partnerships in the industry. Last month, it partnered with Talos, a provider
of institutional digital asset trading technology, to enhance options trading
for institutional clients.

Anton Katz, the CEO and Co-Founder of Talos, said: “We
are thrilled to join forces with Deribit to offer high-performance crypto
options trading to our diverse range of institutional clients. Options are an
important instrument for institutions to access and manage their exposure to
digital assets.”

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