Dubai-based crypto exchange Bybit has just announced the launch of Bitcoin options backed by the stablecoin USD Coin (USDC).
Users earn on the future price of the underlying asset and the exchange settles transactions in USD Coin.
Bybit reportedly offers options with expiration dates of seven days, two weeks, one month, two months and six months.
Buyers are not obliged to close the deal. Option contracts expire even without a transaction.
Bybit co-founder and CEO Ben Zhou has said:
“Our customers have been waiting for us to offer options. We have established a new level of service in the industry that will strengthen the trend of cryptocurrency options trading, just as Robinhood did with stock options.”
Bybit users also have the ability to trade guaranteed futures and futures contracts on Tether, USD Coin, Bitcoin and other cryptocurrencies.