The Singapore-headquartered digital asset exchange – Bybit – expanded its services, enabling crypto options trading. Upon launch, users will be able to trade USDC options and perpetuals through portfolio margin, which employs a risk-based model for experienced investors to increase fund utilization on the underlying price and volatility.
According to the document shared with CryptoPotato, the function will enable Bybit’s clients to speculate on the future price of an underlying digital asset and settle trades in USDC.
Option contracts defer from futures contracts, where a transaction is mandatory and needs to be finalized at the settlement date. The risks for traders when employing the former are relatively low because it is determined by the premium paid, while there is no such barrier for futures contracts.
Bybit’s new opportunity is meant to aid the platform in its mission to become a fully-integrated trading venue with a user-friendly interface.
Ben Zhou – Co-Founder and CEO of Bybit – noted that crypto options trading has been a highly intriguing feature for clients “since there has been no other revolutionary product offered in the market at the moment.”
“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,” the executive concluded.
Established in 2018, Bybit has already amassed over 2 million registered users. The past year or so has been quite active for the company as it released several new features and signed partnerships with well-known names.
In November 2021, it inked a deal with the Argentine Football Association (AFA), and it became the Global Main Sponsor of Argentina’s national soccer team. Moreover, Leo Messi (the captain of the selection) and his teammates will wear the company’s logo on their training apparel until November 2023.
Earlier this year, Bybit dived into the non-fungible token universe by launching an NFT marketplace. Unlike other platforms, customers were allowed to trade digital collectibles directly from their spot accounts.
“We are excited to provide a premier NFT platform for Bybit users so they can be part of the creation of a new marketplace and new world called the Metaverse,” Zhou commented.
Shortly after, the company shook hands with Red Bull’s Formula 1 team. Thus, Bybit became the Principal Team Partner of the racing squad. It vowed to aid Red Bull’s NFT endeavors, promote fan tokens, and provide financial inclusion for women in the blockchain industry.