Bybit, a Singapore-based crypto exchange established in 2018, announced its extension into the crypto options trading in addition to its current product line of expiration and perpetual futures contracts.
This decision of developing a new options trading offering was highly influenced by the growing community demand, calling for a better tool for its users.
Once Bybit launches the crypto options trading, its users will be able to trade USDC options through a portfolio margin. Besides, the platform will come with a user-friendly interface and a fully integrated trading venue.
During the announcement release, Bybit Co-founder and CEO, Ben Zhou said:
“We are confident that our state-of-the-art offering will set the bar for the sector and normalize crypto options trading, just like what Robinhood did for stock options. We are also excited to bring with us to options trading the world-class liquidity and reliability our clients have come to associate with Bybit.”
How the new feature works
The newly launched feature will not work any differently from the other traditional finance, however, it allows its users to project the future value of the asset in the United States dollar value as well as settle the trade using USDC.
Currently, Bybit has over two million registered users with a couple of partnerships with some of the prominent companies like Oracle Red Bull Racing, Astralis, Oracle Red Bull Racing Esports, esports NAVI, Alliance, and associations football teams Avispa Fukuoka and Borussia Dortmund, Virtus.pro, and Formula One racing team.