BitDAO

<p>Dubai-headquartered crypto exchange Bybit has announced the launch of its newly revamped institutional trading platform, Bybit Institutional.</p><p>Bybit outlined details of the refreshed product offering which the company hopes will provide institutional clients with an elevated trading experience, via a<a href="https://blog.bybit.com/en-US/post/bybit-institutional-announces-platform-upgrade-and-participation-at-blockchain-life-2023-in-dubai-bltfdbc53a0b95093fd/" rel="noopener noreferrer nofollow"> blog post</a> published to its website on Wednesday.</p><p>The revamped Bybit Institutional platform claims to have introduced a host of new features that it hopes will distinguish it from competitor offerings:</p><h2 id="header-0">Liquidity</h2><p>The platform claims to be one of the largest in terms of open interest for crypto derivatives trading. This position allows for high trading volumes, creating frequent opportunities for clients to enter and exit positions. This heightened trading activity allows clients to execute orders without causing significant market price fluctuations.</p><h2 id="header-1">Asset safety</h2><p>Following the spectacular failure of a number of crypto platforms in 2022, a lot of emphasis is being placed on client asset safety in 2023. Proof of reserve audits has been adopted by some platforms as a direct response to these failures. Bybit Institutional is offering that fail-safe in an effort to demonstrate that it maintains cryptocurrency reserves to cover all client holdings.</p><p>Between routine audits, the use of robust security frameworks, multi-factor authentication, encryption, and other measures, the platform feels that it is prioritizing the security of client assets. Moreover, clients are also offered the option to utilize third-party custodial services for off-exchange settlement of trades and long-term asset storage.</p><h2 id="header-2">Fee structure optimization</h2><p>The platform is offering a fee structure that it claims to have tailored to maximize cost-efficiency for institutional traders. A customized fee schedule has been incorporated, based on trading volumes and strategies, and aimed at supporting institutions’ objectives of reducing trading costs while optimizing their returns.</p><p>Eugene Cheung, Vice President and Head of Bybit Institutional, expressed his enthusiasm for the platform’s refreshed product offering, stating:</p><p>“We are thrilled to introduce the new Bybit Institutional page, designed to cater specifically to the needs of our institutional clients. With our deep liquidity, commitment to asset safety, and cost-efficient fee structure, we aim to provide a seamless trading experience for institutions of all sizes.”</p><p>Bybit Institutional has partnered with significant players within the industry in bringing its offering to market, such as Fireblocks, Copper, and Circle.</p><h2 id="header-3">Blockchain Life</h2><p>The United Arab Emirates-based exchange is also a participant in next week’s Blockchain Life 2023 event in Dubai, the 11th international forum on cryptocurrencies, blockchain, and mining. Cheung will participate as one of the panelists at the event on October 24. Titled “Crypto Market Outlook: Insights and Forecasts From Top Crypto Exchanges,” the panel of industry experts will delve into the current crypto landscape, emerging trends, and future forecasts.</p><p>Bybit’s launch of the enhanced Bybit Institutional trading platform is indicative of the interest that exists between a range of market participants in cornering institutional business. UK bank Standard Chartered, through its Singapore-based subsidiary Standard Chartered Ventures and portfolio companies Zodia Custody and Zodia Markets, is also making a<a href="https://medium.com/&#64;coinness.gl/standard-chartered-muscling-into-asian-crypto-space-3a26f2c5b03e" rel="noopener noreferrer nofollow"> concerted effort</a> to muscle in on this market segment.</p>

Bybit Overhauls Institutional Trading Platform Bybit Institutional

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