Deribit, the world’s largest digital assets derivatives exchange, has announced the launch of new USDC-settled linear options for Bitcoin (BTC) and Ethereum (ETH).
Starting August 19, traders will be able to buy and sell options on BTC and ETH with payouts, pricing, and settlement all denominated in USDC.
Linear options are financial derivatives whose profits and losses move in direct, “linear” proportion to the underlying asset’s price. As BTC or ETH rise or fall, the value of the option adjusts predictably—offering traders transparency, precision, and ease in hedging, speculation, and portfolio yield strategies. Unlike traditional inverse options, which settle in the underlying crypto (BTC or ETH), linear options offer cash settlement in USDC, making the trading process more familiar for finance professionals and accessible for newcomers.
Why USDC Is Ideal
By settling options in USDC, Deribit is responding directly to demands from its global userbase—institutions and retail holders seeking the stability of a dollar-equivalent structure. USDC minimizes exposure to the volatility of the underlying coins when it comes to collateral, accounting, and portfolio rebalancing. It also aligns with established practices in traditional finance while allowing participants to remain within the crypto ecosystem.
The launch follows Deribit’s successful rollout of USDC-settled linear options and perpetuals for altcoins like SOL and XRP last year. The positive market reception of altcoin derivatives proved that users are eager for products that balance crypto’s innovative edge with the reliability and transparency of stablecoins.
Importantly, Deribit will continue to offer inverse BTC and ETH options—priced and settled in the base asset—ensuring traders can select products that align with their risk management and settlement needs. The integrated margin system also means that positions in linear and inverse options will offset each other, enhancing flexibility and capital deployment.
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