Deribit, a cryptocurrency exchange for options, has a big plan for the new year despite a downtrend in the market. According to the report, the network has committed to adding options for Solana (SOL), XRP, and Polygon (MATIC) to its product line.
Deribit intends to give customers contracts on additional coins at the beginning of January. In an interview, Chief Commercial Officer Luuk Strijers added that low volatility “will not defer our plans.” According to him, the company will also apply for a brokerage license in the European Union.
Strijers said, “Is this the best environment to launch new products or should we defer? That’s what keeps us awake.” He is expecting “some increased volatility in January when we launch options on three altcoins.”
The $2 trillion in crypto derivative trading volume fell to $1.5 trillion in September, inhibited by the depressed value of digital assets and increased volatility compared to 2021’s peak levels.
Traders are expecting that the recently introduced Ether futures exchange-traded funds and a potential approval from US regulators for Bitcoin spot ETFs will revive swings in the market for digital assets.
For the first time, Deribit’s expansion would take it beyond the likes of Bitcoin, Ether, and USD Coin. When the Panama-based company receives the necessary license in the emirate, Strijers said, it will relocate to Dubai, which is a relatively crypto-friendly jurisdiction.
Also Read: BTC & ETH Options Contracts Worth $4.8B To Expire On Deribit
