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

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on Oct 9, 2023
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  • Crypto options exchange Deribit will launch SOL, XRP, and MATIC pairs in January 2024.
  • Also, Deribit seeks a brokerage certificate in the European Union.
  • Deribit remains dedicated to offering more options to clients despite recent volatility.

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Deribit, a crypto exchange for options, made a significant move despite ongoing market volatility, catching the attention of crypto players on 9 October. Reports show the network’s commitment to expanding its products with Solana (SOL), XRP, and Polygon (MATIC) options.

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Deribit promises more offerings in the European Union

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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.

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.

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