KEY POINTS

  • Bybit expands its services
  • Bybit users would be able to trade USDC options
  • This will help Bybit become a fully integrated trading venue

The Singapore-headquartered digital asset exchange Bybit has announced the expansion of its services, enabling crypto options trading. This will allow Bybit users to trade USDC options and perpetuals through portfolio margin, to increase fund utilization based on the underlying price and volatility.

“Options is something that our existing clients have long been asking for since there has been no other revolutionary product offered in the market at the moment,” Ben Zhou, co-founder and CEO of Bybit, said in a statement Tuesday. .

“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. We are also excited to bring with us to options trading the world-class liquidity and reliability our clients have come to associate with Bybit.”

The feature will enable the company's clients to speculate on the future price of an underlying digital asset and settle trades in USDC.

Bybit is a crypto exchange that offers a professional platform launched in March 2018. The company's new opportunity will help the platform in its mission to become a fully-integrated trading venue with a user-friendly interface.

The news comes as an addition to Bybit's expansion in cryptos as last week the company enabled users to purchase crypto using their credit and debit cards.

Last month, Bybit joined the ranks of companies shifting their headquarters from Singapore to Dubai as the UAE’s new Dubai Virtual Asset Regulation Law aims to boost the industry in the emirate.

Illustration shows representation of Ethereum with its native cryptocurrency ether Representation of Ethereum, with its native cryptocurrency ether, is seen in this illustration taken November 29, 2021. Photo: Reuters / DADO RUVIC