By
Svetlana Soroka
April 28th, 2024
Beyond its crypto options offerings, the exchange has set its sights on obtaining a brokerage license in the European Union (EU).
Deribit, one of the world’s leading crypto options exchanges, has recently made a significant announcement that it is set to introduce options contracts linked to three prominent alternative cryptocurrencies: XRP, Solana (SOL), and Polygon (MATIC).
This expansion initiative comes on the heels of Deribit’s continued efforts to cater to the evolving needs of crypto traders.
Deribit Linear Options – A Game Changer
In September, Deribit accounted for an impressive 86% of the global crypto options market, a testament to the exchange’s dominance in this segment. This latest expansion demonstrates Deribit’s commitment to staying at the forefront of innovation in the crypto derivatives space.
Unlike traditional options that involve complex calculations related to deltas and implied volatility, linear options have a linear payout structure. This means that the payout to the option holder is directly proportional to the price movement of the underlying asset. This simplicity can attract both experienced options traders and newcomers to the world of crypto derivatives.
Traders who are actively involved in altcoin trading have traditionally relied on options linked to more established cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) to hedge their positions. However, with the introduction of XRP, SOL, and MATIC options, these traders now have more tailored and versatile tools at their disposal for managing risk within the altcoin space.
Deribit Seeks Expansion in Europe
Beyond its crypto options offerings, the exchange has set its sights on obtaining a brokerage license in the European Union (EU). This move demonstrates Deribit’s commitment to regulatory compliance and providing a secure and trusted trading environment for its users.
A brokerage license in the EU would open up new avenues for Deribit, allowing it to expand its services and cater to a wider audience. It would also signal to traders that the exchange is committed to adhering to the highest standards of transparency and governance.
Deribit’s recent announcement is just one piece of the puzzle in the exchange’s ongoing efforts to enhance its services and offerings. In a strategic move aimed at further diversifying its product portfolio and catering to the evolving needs of crypto traders, Deribit previously unveiled the launch of a zero-fee spot trading exchange.
This new offering marks a significant milestone in Deribit’s journey to provide a comprehensive suite of trading opportunities for its clients. The addition of a zero-fee spot exchange complements the existing derivatives and options products, positioning Deribit as a one-stop shop for crypto trading.
Crypto enthusiasts and traders worldwide will be keeping a close eye on Deribit’s journey and eagerly anticipating further updates from the exchange. With these recent developments, Deribit solidifies its position as a key player in the crypto derivatives market, making it an exciting platform to watch in the months and years ahead.