Share this article
Deribit to List XRP, SOL, and MATIC Options; Seeks License in EU
Deribit controls over 85% of the global crypto options market.
Updated Oct 9, 2023, 12:08 p.m. Published Oct 9, 2023, 8:29 a.m.
Deribit, the world's leading crypto options exchange by trading volume and open interest, will soon offer options tied to prominent alternative cryptocurrencies XRP, SOL and MATIC.
The exchange announced its expansion plan on X soon before press time, adding that it is seeking a brokerage license in the European Union (EU).
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Options are derivative contracts that give the purchaser the right but not the obligation to purchase or sell the underlying asset at a predetermined price on or before a specific date. A call gives the right to buy while a put offers the right to sell.
The availability of XRP, SOL and MATIC options could boost liquidity in the wider alternative cryptocurrency market and will provide altcoin traders more flexibility in managing their risks. Historically, altcoin traders have relief on ether and bitcoin options to hedge their altcoin exposure.
Deribit's existing product suite includes options and perpetual futures tied to bitcoin, ether and volatility futures. The exchange's bitcoin and ether options are popular among traders looking to hedge their portfolios and bet on volatility. In September, the exchange accounted for 86% of the global crypto options market.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
Top Stories
