The XAUT options market on Bybit has launched, with Bybit identified as one of the world’s top cryptocurrency exchanges by trading volume. Bybit has added options trading on Tether Gold (XAUT), offering European-style contracts that settle in USDT and where each option contract corresponds to one XAUT token. Orbit Markets partnered with Bybit to provide deep, institutional-grade liquidity for the XAUT options.
XAUT options on Bybit are European-style contracts that settle in USDT. Each option contract corresponds to a single XAUT token, and each XAUT token represents one troy ounce of physical gold. The contract size therefore maps one-to-one with the tokenized gold unit.
The XAUT token serves as a tokenized representation of a troy ounce of physical gold, and the options reference that tokenized unit. By linking each contract to a single XAUT token, the derivatives establish a direct connection between a crypto-listed option and an asset representation tied to physical gold. The available contracts therefore pair digital trading infrastructure with a token that denotes one troy ounce of bullion. The structure reflects the tokenization aspect embedded in the XAUT product.
Orbit Markets partnered with Bybit to provide deep, institutional-grade liquidity for the XAUT options. Orbit Markets’ team includes former senior executives from precious metals trading desks, including the ex-APAC Head of Currencies and Precious Metals at Deutsche Bank. XAUT options were previously available on CoinCall from November 2024, and Bybit’s launch marks the first time a top-tier exchange has offered them with institutional-grade liquidity support. Bybit is one of the world’s top cryptocurrency exchanges by trading volume.
Orbit Markets partnered with Bybit to ensure deep, institutional-grade liquidity for the XAUT options market on Bybit. Bybit is one of the world’s top cryptocurrency exchanges by trading volume. The partnership provides institutional-grade liquidity support for the XAUT options.
Orbit Markets’ team includes former senior executives from precious metals trading desks, including the ex-APAC Head of Currencies and Precious Metals at Deutsche Bank. Jimmy Yang, co-founder of Orbit Markets, said: “As tokenization accelerates, we believe the distinction between crypto and TradFi will continue to narrow.” “Gold options are a cornerstone of traditional derivatives markets, and we are excited to see growing interest in TradFi derivatives within crypto.”
XAUT options on Bybit are European-style contracts that settle in USDT and each option contract corresponds to one XAUT token, which represents one troy ounce of physical gold. Bybit’s entry marks the first time a top-tier exchange has offered XAUT options with institutional-grade liquidity support. Orbit Markets’ partnership and team background are cited as the market expertise backing the offering.
XAUT options have been available on CoinCall since November 2024, but Bybit’s launch is the first time a top-tier exchange has offered them with institutional-grade liquidity support. The global gold options market is a multi-billion-dollar industry dominated by exchanges such as the CME and India’s MCX, with a large portion of volume traded over-the-counter. Bybit’s entry brings XAUT options onto a major exchange framework and introduces institutional-grade liquidity support for XAUT options that were previously listed on CoinCall. Bybit is one of the world’s top cryptocurrency exchanges by trading volume.
Bybit, one of the world’s top crypto exchanges, has launched options trading on Tether Gold (XAUT) with European-style contracts settled in USDT and each contract corresponding to one XAUT token representing one troy ounce of physical gold. Orbit Markets partnered with Bybit to provide institutional-grade liquidity, and the team includes former senior executives from precious metals trading desks, including the ex-APAC Head of Currencies and Precious Metals at Deutsche Bank.
