Share this article
Crypto Derivatives Exchange Bybit to Settle Options Contracts in USDC
The company will be using the second-largest stablecoin by market cap for its relative stability.
By Jimmy He
Updated Apr 14, 2024, 10:46 p.m. Published Jun 29, 2022, 3:49 p.m.
Crypto derivatives exchange Bybit said it is offering options contract settlement using USD coin (USDC).
The exchange said in a press release that USDC, a stablecoin pegged 1:1 to the United States dollar and the second largest by market capitalization, will enable stable prices for the duration of each contract.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Most crypto options are margined and settled using the same currency. For example, if bitcoin (BTC) is used as collateral in a contract, it will also be used as the settlement currency. Bybit says its move to settle using USDC is a first for crypto options trading.
The settlement date is the date when a trade is final, and the buyer must make payment to the seller while the seller delivers the assets to the buyer. Options contracts and other derivatives have settlement dates for trades in addition to a contract's expiration dates.
Bybit’s choice to use USDC for contracts because of its stability unfolds against a bear-market backdrop of stablecoin doubts. In May, Terra's UST, then the third-largest stablecoin by market cap, crashed to near zero from its dollar peg. Tether (USDT), the largest stablecoin, lost $10 billion in market capitalization the same month when investors started to redeem the tokens.
Amid the general crypto market volatility, USDC is being seen as a more reliable and transparent option, according to analysts.
Bybit collateral
Bybit currently supports USDT, BTC, ether (ETH) and USDC as collateral, with more assets to be added, it said. Under the newly launched unified margin account, users of Bybit’s European-style, USDC-settled options will also be able to use all assets under their account as collateral to trade USDC options contracts and perpetuals.
“Our derivatives platform has the world’s best liquidity and tightest spread, so traders are ensured the best quote and best execution in the market even during extreme volatility,” said Ben Zhou, co-founder and CEO of Bybit, in the press release.
The announcement comes a week after Bybit announced it would be reducing its workforce and consolidating teams to improve efficiency.
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
BTC, ETH, SOL, XRP and DOGE trade higher as precious metals rally keeps macro focus
Altcoins posted broader gains in quiet Sunday trading as bitcoin held a tight range near $88K and analysts weighed crypto against the surge in precious metals.
What to know:
- XRP, dogecoin and solana outperformed bitcoin and ether over the past 24 hours in thin weekend trading.
- Analysts said bitcoin remains range-bound between roughly $86,500 and $90,000.
- Glassnode flagged spot price sitting near one on-chain mean while remaining well below short-term holders’ cost basis.
Top Stories
