Deribit, a well-known crypto exchange, has announced the launch of new trading contracts for Bitcoin and Ethereum that will be settled in the stablecoin USDC. This move aims to reduce risks associated with cryptocurrency volatility.
Expanding USDC Settled Trading
Starting August 19, institutional and retail traders will have access to new linear options and dated futures, allowing them to avoid the risks associated with cryptocurrency price fluctuations.
In a recent statement, Deribit’s CEO, Luuk Strijers, emphasized that demand for stablecoin-settled products has grown significantly among both professional and individual traders.
American Operations and Flexibility
The new contracts will provide Bitcoin and Ethereum traders with the same USDC settlement benefits that Deribit previously offered for select altcoins. The exchange also aims to lower the minimum trade size to 0.01 BTC and 0.1 ETH, allowing new traders to participate while also attracting larger institutional players.
Strijers noted that switching to USDC settlement provides more flexibility and saves money, facilitating all types of traders.
Deribit's Achievements and Partnership with Coinbase
Founded in 2016, Deribit has become one of the leading platforms for cryptocurrency options trading. In July, the company set a record with $185 billion in trading volume for a single month, driven by significant activity from large institutional investors.
With the recent $2.9 billion acquisition of Deribit by Coinbase, the exchange is looking to expand its U.S. operations and increase its global presence.
The launch of new USDC settled contracts for Bitcoin and Ethereum opens up new opportunities for traders and reflects the growing interest in stable cryptocurrencies in the market.
