Crypto Developments In Asia: Dubai’s Bybit Is Now World’s Second-Largest Crypto Exchange, Delta Offers Options Trading On BTC, ETH In India
This week in Asia, Dubai’s Bybit officially became the world’s second-largest crypto exchange. Meanwhile, Delta started offering options trading on Bitcoin and Ethereum in India. The Asia-Pacific market is witnessing a surge in interest for Bitcoin and Ethereum ETFs.
Dubai-headquartered Bybit has now become the second largest crypto exchange in terms of trading volume.
Bybit gained on the void left by the defunct FTX platform. Co-founder and CEO Ben Zhou insisted that the opportunity presented by FTX’s collapse, allowed Bybit to capture a significant portion of the market.
The exchange’s strategic targeting of former FTX clients and focus on attracting users from Europe and Russia have fueled its rapid growth.
🚀 Bybit is now the world’s second-largest crypto exchange! 🎉
Perfect time to recall our chat with Ben Zhou, Co-Founder and CEO of @Bybit_Official, on our podcast. It’s a must-watch episode!
Watch the full Interview on our YouTube Channel: https://t.co/cpGV1l2JUt pic.twitter.com/vLTEEHCPO1— Crypto OGs (@crypto0gs) June 26, 2024
Bybit remains focused on expanding global presence. The exchange has taken steps to ensure regulatory compliance.
In April 2024, Bybit secured a license to conduct virtual asset business in Dubai, further solidifying its position in the market.
Delta Offers Options Trading On BTC, ETH In India
Popular crypto derivatives exchange, Delta Exchange, has officially launched its Indian platform to offer options trading on Bitcoin (BTC), Ethereum (ETH), and other crypto assets.
Delta Exchange Launches in India, Brings Options Trading for Crypto Assests https://t.co/P4czs6QIFx
— Today Tech Times (@todaytechtimes) June 27, 2024
Delta is known for its seamless and instant INR deposit and withdrawal system, and boasts transaction volume of $17 billion. The platform allows traders to operate on the exchange without the need to hold stablecoins or other crypto, eliminating the risks associated with crypto custody,
Over 100,00 Indian users are already onboard the beta version of Delta. However, the platform does not accept crypto deposits or withdrawals.
Delta, which is founded by Pankaj Balani, Jitender Tokas, and Saurabh Goyal, is backed by well known investors. The list includes CoinFund, Kyber Network, and more.
Globally, Delta Exchange has been operational for over six years, facilitating crypto trading of derivatives products such as options with daily expiry, altcoin options, interest rate swaps, and more.
Asia Pacific Market Heating Up for Bitcoin and Ethereum ETFs
The Asia-Pacific market is witnessing a surge in interest for BTC and ETH exchange-traded funds (ETFs).
With the launch of two Bitcoin ETFs in Australia in June 2024, and the approval of six Bitcoin and Ethereum ETFs in Hong Kong, APAC is poised for significant growth in the crypto ETF space.
The demand for crypto exposure through regulated investment vehicles is the driving force behind the development of ETFs in APAC.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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