October 4, 2022 - Bit.com announced the launch of a USD underlying options trading service providing users a tool for trading crypto options denominated in dollars.
Established in 2019, Bit.com, the cryptocurrency exchange is aiming to improve access to options trading. Bit.com users can now trade options in cryptocurrencies, with the options being denominated in and settled with USD or USDC.
'In this moment of sustained volatility, our users need an efficient, flexible trading service that gives them exposure to a range of different crypto assets and hedge risk where necessary. That's why we launched USD underlying options trading – to stand out in a crowded market and equip our users to beat the bear market' - Lan, Co-founder and COO at Bit.com.
Lan also said: 'There will be wider adoption from institutional investors as a result of this options market scale up, as more of our peers will also begin to offer this as a service. We believe the trading volume will increase 10 fold in 2023, and see this as a trend that will lead to people embracing more altcoin options'.
He added that traders won't have to surrender their cash and can use dollars to fund multiple positions.
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