Tether Gold now has a dedicated options market on Bybit
Key takeaways
- Bybit partnered with Orbit Markets, a leading options market maker active in both crypto and traditional finance to ensure deep liquidity from the start.
- “As tokenization accelerates, we believe the distinction between crypto and TradFi will continue to narrow,” said Jimmy Yang, co-founder of Orbit Markets.
- The XAUT options are European-style contracts settled in dollar-pegged stablecoin USDT, with each options contract corresponding to one XAUT token, which itself represents one troy ounce of physical gold.
Bybit has partnered with options market maker Orbit Markets to ensure institutional-grade liquidity.Bybit, one of the world’s top cryptocurrency exchanges by trading volume, has launched options trading on Tether Gold (XAUT), a token that provides you ownership of real physical gold.
The XAUT options are now live and allow traders to hedge risk, speculate on gold price movements, trade volatility, and build custom strategies through Bybit’s Request for Quote (RFQ) system for over-the-counter (OTC) deals.
Bybit partnered with Orbit Markets, a leading options market maker active in both crypto and traditional finance to ensure deep liquidity from the start. Orbit’s team brings significant expertise, including former senior executives from precious metals trading desks, notably the ex-APAC Head of Currencies and Precious Metals at Deutsche Bank.