Deribit Unveils Plans to Expand Cryptocurrency Options, Eyes European Market
In Brief
In January of next year, options & futures exchange platform Deribit plans to introduce new options for trading, including SOL, XRP and MATIC.
Deribit, remains undeterred by the market’s declining volatility, laying out an ambitious plan for the start of the new year.The company’s Chief Commercial Officer Luuk Strijers announced that from January, the platform will introduce options trading for three altcoins: Solana’s SOL, Ripple Labs’ XRP, and Polygon’s MATIC.
Despite the downturn in crypto derivative trading volumes, which dropped from $2 trillion early this year to $1.5 trillion in September, Strijers is optimistic about the future.
But he remains hopeful, projecting a spike in volatility by January to coincide with their product launch.
Despite the current landscape, we ponder if it’s the right climate to roll out new offerings
Strijers said
Market participants are holding their breath for a potential market jolt, especially with the introduction of Ether futures exchange-traded funds. There’s also an anticipation that the green signal for Bitcoin spot ETFs from US regulators could stir the waters, bringing back the fervor experienced in 2021.
Originating from Panama, Deribit has been primarily known for options on Bitcoin, Ether and USD Coin. But as part of its global expansion strategy, Strijers mentioned that Deribit is in the process of obtaining a brokerage license in the European Union.
We're bringing linear options for SOL, XRP, and MATIC to the table. 📈
— Deribit (@DeribitExchange) October 9, 2023
🔥 Plus, we're on the path to obtaining a brokerage license in the EU! Stay tuned for more updates on our journey to empower crypto traders worldwide.https://t.co/gNm1861ygB
Furthermore, the firm is setting its sights on Dubai for relocation, citing its crypto-friendly regulatory environment. This move is contingent on the acquisition of the necessary licensing from the United Arab Emirates.
On an organizational front, Deribit continues to grow. With a current workforce of 115, Strijers indicated that there are plans to bolster the team with 12 additional hires in the near future.
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About The Author
Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.
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Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.
