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The crypto trading platform plans to add options for SOL, XRP, and MATIC starting in January 2024.
crypto derivatives exchange Deribit is looking to apply for a brokerage license in the European Union about a year after the platform suffered a $28 million hack.
in a interview Writing in Bloomberg, Deribit CCO Luuk Strijers said the exchange currently views the EU as the “best environment to launch new products,” although in early 2023 reports said the company was planning to move to Dubai.
“Is this the best environment to launch new products or should we postpone it? “That’s what keeps us awake.”
Luuk Strijers, Deribit CCO
He also added that the company expects “an increase in volatility” in early 2024, as Deribit plans to launch new options on Solana (SOL), XRP and Polygon (MATIC), altcoins, which have been classified as securities by the Stock Exchange. US Securities and Exchange Commission. At press time, Deribit offers bitcoin (btc) and ethereum (eth) options.
Despite high-profile incidents in the past, the largest cryptocurrency options exchange is pushing to expand its services in new regions. In early November 2023, Deribit confirmed that it had suffered a $28 million exploit in one of its active wallets. The exchange assured its clients that it would compensate for the lost funds through its emergency reserve funds, meaning that the insurance fund would not be affected in any way.
Founded in 2015, Deribit controls more than 80% of the global crypto options market, according to data from Laevitas, a quantitative data analysis company. The exchange has raised $140 million in two rounds, with support from 10T Holdings and Akuna Capital.
