Cryptocurrency exchange Bybit, the cryptocurrency exchange with the most extensive BTC futures open interest, has unveiled futures contracts that will be settled in the world’s most trusted stablecoins, USDC. Unlike the Bitcoin-decided futures contracts, the USDC fixed contracts will have stable prices for each.
While announcing the USDC-settled futures contracts, the co-founder and CEO of Bybit, Ben Zhou, said:
“We have been very pleased by the roll-out of our options trading product. We have also received excellent feedback from our users — 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 execution in the market even during extreme volatility.”
Bybit has decided to tackle the current crypto market volatility by launching stablecoin settled futures contracts.
Bybit portfolio margin account
Those participating in the USDC-settled futures contracts will also benefit from the newly launched unified margin account that offers a new structure for trading derivatives. They will be able to use all the crypto assets in their history as collateral to trade the USDC options contracts and perpetual.
The margin account currently supports using USDC, USDT, ETH, and BTC as collateral. More assets will be added soon.
The margin account and today’s announcement for USDC settled futures contracts cements Bybit’s reputation as a fully integrated crypto trading powerhouse with a dedicated dual server system.
Bybit has experienced a 99% uptime throughout the year and a 100K rps trading engine. It has also processed 30,000 transactions at its peak.
Bybit also offers users one-month trading at their lowest see tier, which is usually a reserve of the VIP account holders.
Most importantly, Bybit offers the best on-screen liquidity in the market and delivers open, transparent communication on its tier-based fee rate.
Crypto options trading
The current volume of crypto options is only a fraction of the total traded volume of crypto derivatives. Also, contrary to the traditional markets, most crypto options are margined and settled using the currency BTC.
Bybit is therefore seeking to expand the crypto options space by offering a new type of crypto options, specifically the USDC settled futures contracts.
Byits options also offer a portfolio margin system similar to that of SPAN.
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