Solana

Bitcoin

Polygon

Trillion

<ul class="list-ic vertical"> 
 <li> 1 <a>Derbit reported expanding its crypto-asset offerings by including SOL, XRP, and MATIC, etc.</a> </li> 
 <li> 2 <a>The exchange is also looking for regulatory compliance in the European Union (EU)</a> </li> 
</ul> 
The cryptocurrency landscape changes every once in a while and listing-delisting of crypto assets over any platform is part of the transformation. Such a development took place when the leading options crypto exchange Deribit reported expanding its crypto-asset offerings. The exchange will include prominent crypto assets such as SOL, XRP, and MATIC. In addition, it also seeks to launch options contracts in the European Union (EU).&nbsp; 
Bloomberg reported on Monday, October 9, that Deribit came up with the announcement to include Solana (SOL), XRP (XRP), and Polygon (MATIC) for its options offerings.&nbsp; 
Deribit’s commitment to diversifying its options offerings despite a recent decrease in market volatility for digital assets underscores the exchange’s dedication to providing customers with an expanded array of cryptocurrency contracts. This strategic decision reflects Deribit’s intent to stay agile in the ever-evolving cryptocurrency market and cater to the diverse needs of its clientele by offering a wider selection of trading instruments and opportunities. 
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 We're bringing linear options for SOL, XRP, and MATIC to the table. <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> 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.<a href="https://t.co/gNm1861ygB">https://t.co/gNm1861ygB</a>— Deribit (@DeribitExchange) <a href="https://twitter.com/DeribitExchange/status/1711287169778856196?ref_src=twsrc%5Etfw">October 9, 2023</a>
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Chief Commercial Officer at Deribit, Luuk Strijers, has made it clear that the reduction in volatility within the cryptocurrency market will not hinder the expansion initiatives of the <a href="https://www.thecoinrepublic.com/2023/06/20/crypto-exchange-gemini-reveals-singapore-expansion-plan/" target="_blank" rel="noreferrer noopener">crypto exchange</a>. This resolute stance suggests that Deribit remains committed to its growth strategy and is determined to pursue its plans for diversifying and enhancing its cryptocurrency offerings, irrespective of the current market conditions. It reflects the exchange’s long-term vision and confidence in the cryptocurrency space. 
Deribit’s expansion efforts extend beyond just diversifying its options portfolio. The exchange is also actively working towards regulatory compliance in the European Union (EU). Furthermore, it has plans to apply for a brokerage license within the EU, underscoring its dedication to operating within the framework of regional financial regulations.&nbsp; 
The strategic expansions are occurring in the context of a decline in cryptocurrency derivative trading volumes, which have decreased from $2 Trillion at the start of the year to approximately $1.5 Trillion in September. Despite these challenges, Deribit maintains a positive outlook on the future of the cryptocurrency market. Furthermore, these expansion efforts are aimed at bolstering Deribit’s credibility and accessibility to European traders and investors.&nbsp; 
By pursuing regulatory compliance and diversifying its offerings, the exchange aims to position itself as a trusted and accessible platform for participants in the European cryptocurrency market, even in the face of market fluctuations. 
The cryptocurrency derivative market has encountered challenges in 2023, largely stemming from relatively subdued digital asset prices and reduced volatility compared to the highs seen in 2021. However, industry participants hold optimism for a potential revitalization of the market. This optimism is fueled by the recent introduction of Ether futures exchange-traded funds (ETFs) and U.S. regulators’ potential approval of Bitcoin spot ETFs.&nbsp; 
These developments are viewed as potential catalysts that could breathe new life into the cryptocurrency derivative market, offering fresh opportunities and attracting increased participation. 
In a significant development, Bloomberg reported that Deribit intends to shift its operations from Panama to Dubai, a jurisdiction recognized for its favorable stance towards cryptocurrencies. However, this relocation is contingent on obtaining the required license in Dubai.&nbsp; 
Notably, with a current workforce of over 110 employees, Deribit is looking to further expand its team by hiring an additional dozen members as part of its strategic growth plan. This move reflects Deribit’s efforts to align its operations with crypto-friendly jurisdictions and its commitment to expanding its presence in the cryptocurrency industry.

Deribit Expansion: XRP, SOL Options Offerings and Operation in EU

Thecoinrepublic.com

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