Paradigm Launches Linear Altcoin Options Trading on Deribit Exchange

• Paradigm introduces linear altcoin options trading with a first block trade in MATIC on Deribit.
• The expansion includes MATIC, SOL, and XRP options, offering direct price movement payouts.
• The initiative is believed to mark a milestone in liquidity and access for institutional crypto derivatives trading.

Paradigm, the leading liquidity network for derivatives traders, has made a significant stride by expanding its offerings to now include linear altcoin options trading. This expansion was marked by the execution of its inaugural block trade in Polygon (MATIC) on the Deribit Exchange.

Paradigm’s strategic move into linear altcoin options trading was made possible through a strong collaboration with Galaxy, the digital asset leader, and QCP Group, the prominent digital asset market maker. The firm called attention to this development in a statement on its official X account.

The report noted that the introduction of block trading for linear altcoin options on Deribit Exchange now allows clients to execute large-scale trades in MATIC, Solana (SOL), and XRP. Paradigm believes its expansion into this new territory is a testament to its robust track record, which includes over $300 billion in lifetime trading volume.

Linear options, such as those for MATIC, SOL, and XRP, offer a unique advantage. Their payouts are directly tied to the price movements of the underlying assets, providing traders with transparent exposure and substantial trading opportunities. According to the report, this feature is particularly advantageous in volatile markets.

Paradigm’s first move into this new market segment was marked by the successful completion of a block trade involving 500,000 units of MATIC Call Spreads, with strikes at $0.80/$0.95 and expiring on May 31. Paradigm argued that this trade sets a new industry benchmark and contributes to the liquidity of a previously fragmented market.

Luuk Strijers, CEO of Deribit, expressed excitement over Paradigm’s expansion into linear altcoin options. Strijers highlighted the mutual benefits and the anticipation of upcoming inaugural blocks in SOL and XRP. 

Also, Darius Sit, Founder of QCP, praised the launch as a significant step towards financial innovation in the options space, especially as the market grows to accommodate new participants and liquidity in the approaching bull market.

Jason Urban, Galaxy’s Global Head of Trading, commended Paradigm’s new offering and noted its potential to foster greater liquidity and opportunities.

Anand Gomes, Co-Founder of Paradigm, echoed these sentiments, emphasizing the growth and yield enhancement opportunities that the new crypto options market will bring to all traders.