Share this article
Deribit Launches Block RFQ System to Improve Liquidity for Large Over-the-Counter Trades
The new system, tailored for high-volume traders, enables direct negotiation of block trades with improved efficiency and liquidity.
Mar 6, 2025, 10:37 a.m.
What to know:
- Deribit launched a Block Request-For-Quote (RFQ) interface for large over-the-counter (OTC) trades.
- The feature is available to all users but tailored for high-volume traders.
Deribit, the leading crypto options exchange, has launched a Block Request-For-Quote (RFQ) interface, allowing traders to execute large over-the-counter (OTC) trades with improved efficiency and liquidity.
The feature, available to all users but tailored for high-volume traders, enables direct negotiation of block trades without impacting public order books, according to a press release.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The Block RFQ system supports complex trading structures, allowing users to combine options, futures, and spot pairs with up to 20 legs in a single trade, yet using the system is subject to a higher minimum trade size.
The platform uses a multi-maker model that allows multiple liquidity providers to offer partial quotes rather than requiring all-or-nothing fills, while allowing third-party platforms to connect to the Block RFQ system to pool liquidity from multiple sources, per the release.
Deribit announced the new system shortly after Sygnum Bank expanded its custody platform to include the derivatives exchange. The trading platform, it’s worth noting, is reportedly in talks with Kraken for a potential acquisition.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Bitcoin dips, but quickly recovers as U.S. captures Venezuela's Maduro
The U.S. overnight launched a military strike against Venezuela, capturing President Nicolas Maduro and his wife and extracting them from the country.
What to know:
- The U.S. captured Venezuelan President Nicolas Maduro and his wife after a brief military operation Saturday morning, according to President Trump.
- Crypto prices suffered a brief, modest drop on the first reports of the military action, but have since recovered.
Top Stories
