- Bybit is advancing its offerings to service institutional investors.
- One of its latest moves is the integration of Cooper’s ClearLoop network.
Bybit, one of the fastest-growing cryptocurrency derivatives platforms, has successfully completed its integration of Cooper’s ClearLoop network. According to a Press Release shared with Crypto-News Flash, the integration provides clients with an off-exchange settlement option which reduces the risks of counterparty and also increases capital efficiency.
By integrating ClearLoop, ByBit is able to offer its institutional clients a streamlined and more efficient way to trade cryptocurrencies. This will allow for faster settlement times and reduced counterparty risk, making it easier and safer for institutions to invest in the cryptocurrency market.
Bybit and ClearLoop Solves Security Concerns for Institutional Traders
Likewise, one benefit of the integration for Bybit is that it increases the exchange’s credibility and appeal to institutional investors. With more and more traditional financial firms considering investing in cryptocurrencies, having a robust and secure trading infrastructure is a must-have. Bybit’s integration with ClearLoop helps to strengthen its position as a trustworthy partner for institutional investors.
Furthermore, the integration allows Bybit to better compete with other cryptocurrency exchanges that already offer similar services to institutional clients. With ClearLoop, Bybit is now able to offer a wider range of trading options and features, giving them an edge over their competitors.
As institutional investment in cryptocurrencies continues to grow, exchanges that can innovate and adapt quickly will be well-positioned to succeed in the rapidly changing fintech landscape. Bybit’s embrace of ClearLoop puts them in a strong position to do just that.
New Partnership to Improve Product Offerings
As part of its commitment to serving users through high trading tech and simplicity, Bybit announced its partnership with Paradigm for the launch of spread trading on USDT-margined instruments. The feature allows users “to trade the spread between USDT margined spot and perpetual without impacting the order book or incurring leg risk no matter the trade size”. Traders now have access to spread order books on more than 30 digital currencies.
Undoubtedly, the complication on trading platforms has been cited as one of the ultimate barriers to entry for most users into the crypto ecosystem. Understanding this, Bybit has paid extra attention over the years to products that are best appealing to customers.
Recall that Bybit exchange also announced its massive transaction volume on its USDC amid the market rout. According to the digital currency exchange, the contribution of USDC to the spot volume jumped from just 8% to more than 40%. The exchange also noted that it is doubling down on its strategic market positioning to extend its lead as one of the top crypto exchanges in the Middle East and North Africa (MENA) region.
In a similar vein, the exchange also mentioned that it is looking at consolidating its growth in the MENA region by building a new headquarters in Dubai after months when it moved to the region.