Bybit Launches Bitcoin Options Trading

Dubai-based crypto exchange Bybit has launched Bitcoin options collateralised in USD Coin (USDC). They can be purchased using funds on the futures and margin balances.

Users profit from the future price of the underlying asset, and the exchange settles the contracts in USD Coin. Bybit offers options with expiries of seven days, two weeks, one month, two months, and six months.

Buyers are not obliged to close the contract. The expiration of the option contracts occurs even without a transaction.

“Our clients have eagerly awaited the addition of options. We have set a new standard of service in the industry that will reinforce the trend of trading cryptocurrency options, as Robinhood did for stock options,” said Bybit co-founder and CEO Ben Zhou.

Bybit users also trade futures contracts, both dated and perpetual, collateralised in Tether, USD Coin, Bitcoin and other cryptocurrencies.

Bybit is a platform for trading crypto assets and derivatives, as well as for staking, DeFi mining, NFTs and P2P trading.

As of writing, the platform serves around six million traders. According to CoinMarketCap’s analytics service, Bybit ranks in the world’s top 20 exchanges.

Earlier, Goldman Sachs stated that it would expand its offering of cryptocurrency derivatives.

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