Deribit, the world’s largest crypto derivatives alternate, introduced that it’s going to launch Bitcoin (BTC) and Ethereum (ETH) choices settled in USDC.
Deribit, not too long ago acquired by Coinbase, the most important cryptocurrency alternate in the US, introduced on August 19 that it’s going to launch linear Bitcoin and Ethereum choices priced and settled in USDC, along with futures, in accordance with The Block.
Deribit’s announcement of USDC for BTC and ETH comes simply over a yr after integrating USDC-calculated linear choices for altcoins like Solana (SOL) and XRP.
Deribit CEO Luuk Strijers commented on the newest announcement:
The constructive response and rising demand for stablecoin choices within the altcoin area demonstrates that the market is prepared for extra versatile and accessible by-product merchandise. Persevering with this momentum, Deribit has expanded its linear choices providing to incorporate BTC and ETH.
The introduction of linear choices for BTC and ETH is a major milestone in our mission to ship institutional-grade merchandise tailor-made to our purchasers’ evolving wants.
By increasing to USDC, we’re offering higher flexibility, capital effectivity, and a well-recognized fiat-equivalent construction that appeals to each institutional and particular person contributors.”
Deribit additionally added that BTC and ETH linear choices settled with USDC could have smaller minimal order sizes (0.01 BTC and 0.1 ETH) to extend accessibility.
*This isn’t funding recommendation.
