Just in: exchange Deribit expands its products suit with SOL, MATIC, and XRP options

October 09, 2023 08:47 PM AEDT | By Invezz

Just in: exchange Deribit expands its products suit with SOL, MATIC, and XRP options — Image source: Invezz

Deribit promises more offerings in the European Union

We're bringing linear options for SOL, XRP, and MATIC to the table. 📈

🔥 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.https://t.co/gNm1861ygB
— Deribit (@DeribitExchange) October 9, 2023

The exchange revealed plans to launch options contracts for various digital assets in the EU starting January 2024. Considering the latest declined volatility within the digital assets sector, Deribit’s move confirms its dedication to offering clients massive options to its customers.

Besides expanding its products suit, Deribit seeks to acquire regulatory approval in the European Union. The exchange plans to obtain a brokerage certificate in the EU, showcasing its desire to comply with authorities and offer licensed products.

Deribit’s expansion strategy came when cryptocurrency spot and derivatives trading volumes dwindled to the lowest mark since 2020. Meanwhile, the exchange remains upbeat about the future of the crypto market despite the struggles.

Crypto spot and derivatives trading volume in Q3 2023 fell to lowest level since 2020.

Can only go up from here…. right? pic.twitter.com/hCs5SUpGFM
— TWP Group (FT Buybacks) (@WolfOfPoloniex) October 5, 2023

Further, the latest move will enhance Deribit’s access to European investors and bolster the exchange’s credibility.

Moreover, the report revealed Deribit’s plan to move its headquarters to Dubai from Panama. Dubai remain a lucrative destination for crypto entities due to its friendly regulations. For instance, it introduced special commercial licenses to attract Web3 and AI ventures.

Deribit’s decision to expand its options services despite subdued crypto prices and low volatility shows optimism about the future of digital assets. Many industry players trust the latest launch of Ethereum ETFs and possible Bitcoin spot exchange-traded funds approval would resurrect the marketplace.

The post Just in: exchange Deribit expands its products suit with SOL, MATIC, and XRP options appeared first on Invezz.

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