Categories: News

Crypto Derivatives Leader Bybit Tackles Bear Market by Settling Options in USDC

VICTORIA, SEYCHELLES – Media OutReach – 27 June 2022 – Bybit, a cryptocurrency exchange with one of the largest BTC futures open interest, is settling its options trading market in one of the world’s most trusted stablecoins: USDC. Unlike Bitcoin-settled contracts, Bybit’s use of USDC allows for stable prices for the duration of each contract.

Users of Bybit’s European-style, USDC-settled options will also benefit from the newly-launched unified margin account, which offers a completely new derivatives trading structure. Users can use all assets under their account as collateral to trade USDC options contracts as well as perpetuals.

Bybit’s portfolio margin account supports USDT, USDC, BTC and ETH as collateral, with more assets to be added soon. These functions cement Bybit’s reputation as a fully integrated trading powerhouse, with a dedicated dual server system that ensures 99.9% uptime.

Indeed, Bybit experienced a 99.99% up rate throughout the year, with 100k rps trading engine throughput and the track record of processing 30,000 transactions at its peak. Furthermore, Bybit is offering users one month’s trading at their lowest fee tier, usually reserved for VIPs. This equates to a 60% discount compared to industry standard.

As well as having the best on-screen liquidity in the market, Bybit prides itself on open, transparent communication. Its tier-based fee rate has a transparent structure with no hidden fee levels, nor hidden non-liquidation clauses either.

Options Trading in Crypto

Currently, the total crypto options volume is only a small fraction of crypto’s total derivative volume traded, contrary to traditional markets, most crypto options is margined and settled by the same currency — i.e. BTC is used both as collateral and settlement currency for BTC options. For the first time ever in crypto, Bybit offers options that are settled in USDC, which is pegged to the dollar. Bybit options also offer a portfolio margin system similar to that of SPAN.

“We have been very pleased by the roll-out of our options trading product,” said Ben Zhou, co-founder and CEO of Bybit. “We have received excellent feedback from our users too — they love our user-friendly products. Coupled with our 24/7 multilingual customer support, we have been able to help all traders take trading to the next level with a wide range of financial products. Our derivatives platform has the world’s best liquidity and tightest spread, so traders are ensured the best quote and best execution in the market even during extreme volatility.”

About Bybit

Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.

For more information please visit: https://www.bybit.com/

For updates, please follow Bybit’s social media platforms on
https://discord.com/invite/bybit
https://www.facebook.com/Bybit
https://www.instagram.com/bybit_official/
https://www.linkedin.com/company/bybitexchange/
https://www.reddit.com/r/Bybit/
https://t.me/BybitEnglish
https://www.tiktok.com/@bybit_official
https://twitter.com/Bybit_Official
https://www.youtube.com/c/Bybit

#Bybit

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