Deribit To Offer SOL, XRP, and MATIC

Deribit is planning to introduce options contracts for three
major altcoins. In January, the cryptocurrency exchange for options will offer
options trading for Solana’s SOL, Ripple Labs’ XRP, and Polygon’s MATIC token.

This expansion, as reported by Bloomberg, is part of
Deribit’s strategy to diversify its product portfolio despite the uncertain
market conditions. Additionally, the crypto exchange is preparing to apply for
a brokerage license within the European Union, with the aim of establishing a
stronger presence in the region.

While there has been a decrease in crypto derivative trading
volumes in recent months, dropping from about $2 trillion at the start of the
year to around $1.5 trillion in September, Deribit remains optimistic. These
challenges have been worsened by lower crypto prices and reduced volatility
compared to the highs experienced in 2021.

Deribit’s expansion represents a notable shift from its
previous focus on major tokens like Bitcoin and Ether. Besides that, the
Panama-based exchange plans a strategic move to Dubai, known for its
crypto-friendly regulatory environment, once it secures the necessary
licensing.

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

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Exchange

An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv

An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making…