Bybit Launches Tether Gold (XAUT) Options Trading with Orbit Markets
Bybit, one of the top cryptocurrency exchanges by volume, has launched options trading on Tether Gold (XAUT), a token representing ownership of physical gold. The options, settled in USDT, allow traders to hedge risk, speculate on gold prices, trade volatility, and build custom strategies via Bybit's RFQ system for OTC deals. Bybit partnered with Orbit Markets, a crypto options market maker with expertise from precious metals trading, to ensure institutional-grade liquidity. The XAUT options are European-style contracts, each corresponding to one XAUT token (one troy ounce of gold). This launch brings the multi-billion-dollar gold options market on-chain for the first time on a major crypto platform, bridging traditional finance and crypto. While XAUT options existed on smaller platforms like CoinCall since November 2024, Bybit's entry with deep liquidity marks a significant milestone.
Key facts
- Bybit launches XAUT options, settled in USDT, for hedging and speculation.
- Partners with Orbit Markets for institutional-grade liquidity.
- Each option contract represents one XAUT token (one troy ounce of gold).
- European-style contracts traded via RFQ system for OTC deals.
- First major exchange to offer gold options on-chain with deep liquidity.