Deribit To List Options For SOL, MATIC and XRP; Set for European Expansion
The largest cryptocurrency options exchange, Deribit has announced plans to expand its options offering to three additional altcoin coins.
Per the announcement on X (formerly Twitter), the platform noted that the options trade will be added for Solana (SOL), Polygon (MATIC), and Ripple (XRP).
“We’re bringing linear options for SOL, XRP, and MATIC to the table….”
Options are a branch of derivative contracts that give customers the right to buy or sell a token at an agreed price in the future.
The decision to incorporate options comes despite plunging asset prices and wide uncertainty regarding the regulatory stance of several authorities.
The company also revealed plans for a European expansion in the near future with plans to apply for an EU brokerage license.
“Plus, we're seeking to apply for a brokerage license in the EU! Stay tuned for more updates on our journey to empower crypto traders worldwide,”the tweet reads.
Deribit currently controls over 85% of the digital asset options market presently offering Bitcoin (BTC) and Ethereum (ETH) futures.
The recent addition has been hailed by several crypto traders describing it as a move to boost liquidity in the market and help manage risks effectively.
For the exchange, it is a step to further strengthen its position as the top option exchange in the market even as the derivatives trading volume plunged from $2 trillion in January to around $1.5 trillion in September.
Luuk Strigers, the Chief Commercial Officer of the company said in a recent interview that the reduced volatility will not limit the plans of expansion.
“Is this the best environment to launch new products or should we defer? That’s what keeps us awake. We expect some increased volatility in January when we launch
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