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.
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 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 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 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 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 Catching up With the Big Players
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, 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 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 top-notch NFT platform for Bybit users to participate in creating a new marketplace and a new world called 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.
