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Deribit, which holds the title of the largest cryptocurrency options exchange in the world based on open interest and trading volumes, is set to launch a new spot trading capability.

Having commanded a staggering 91% share of the global options open interest exceeding $13 billion in March, the exchange announced the imminent launch of a new platform that will support spot trading. Starting from April 24, the platform will feature three trading pairs: BTC/USDC, ETH/USDC, and ETH/BTC.

This new feature will not charge any maker or taker fees, resulting in a commission-free trading experience on the exchange. Makers can place their orders and wait for them to be matched, while takers can execute trades by taking existing orders from the order book.

With the introduction of spot trading, users can now purchase and sell bitcoin (BTC) and ether (ETH) instantly, in addition to trading derivatives where the underlying asset's payment and delivery occur on a later date. This feature also enables advanced traders to execute multi-leg complex strategies that involve both the spot market and futures and options contracts, all in one place.

"With this latest addition, our platform now boasts a comprehensive suite of both derivatives and spot trading solutions, catering to the diverse needs of traders in the digital asset space," Luuk Strijers, chief commercial officer at Deribit, told CoinDesk.

"Our spot trading feature serves as an exceptional tool for exchanging collateral like BTC and ETH, with the added benefit of zero costs, further enhancing the overall trading experience for our clients," Strijers added.

In 2016, Deribit introduced trading options for Bitcoin and has since diversified into offering inverse and linear perpetual and futures markets for three primary currencies: Bitcoin, Ether, and the US dollar-pegged stablecoin, USDC.

In the previous month, the exchange launched trading in Bitcoin volatility futures, providing traders with the opportunity to speculate on the level of price turbulence for the leading cryptocurrency. As of March 30, the total value of open positions on the platform exceeded $20 billion, setting a new record high.

Source Coindesk