[TheDefiant]
Deribit, the leading centralized cryptocurrency options exchange, announced plans to launch products for Solana (SOL), Ripple (XRP), and Polygon (MATIC).
Deribit announced the news via tweet on Oct. 9, with the firm’s chief commercial officer, Luuk Strijers, telling Bloomberg it is targeting a January launch for the new products.
Strijers said market conditions won’t impact Deribit’s timeline for launching the new contracts, despite monthly charts indicating the volatility of ETH and BTC is down 50% from 2023’s highs. Stijers added he is expecting market movements to pick up during Q1 2024.
Deribit also said it will apply for a European Union brokerage license, and is planning on relocating its headquarters from Panama to Dubai.
The company claims to control an 85% stake of the digital asset options markets, with institutional traders making up 85% of Deribit’s trading volume. However, trade volumes on Deribit are down roughly half from their 2023 highs.
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