- Bybit and Paradigm have advanced their relations with a new fee-slashing campaign.
- This promotion is specifically targeted at attracting institutional investors in the crypto ecosystem.
Cryptocurrency exchange Bybit has inked a strategic partnership with Paradigm, an institutional liquidity network for crypto derivatives traders.
Together, the duo have adopted a fee-slashing promotion targeted at new and professional options traders. The alliance between these top players is aimed at attracting new professional options traders to the Bybit platform. Much more for Bybit, it is part of its effort to improve its offerings for institutional clients.
Collaboration Benefits
These institutional investors stand to benefit from Paradigm’s block trading expertise and Bybit’s seamless trading environment. Precisely, at the core of this exclusive fee-slashing promotion is its accessibility and competitive fee structure. A new user will be required to complete at least one trade, no matter the size, in order to participate in the promotion.
Once eligible, users get to enjoy Bybit’s most competitive ‘Pro5’ fee rate across options, perpetual contracts, and spot trading. This access will be available until October 11th but traders who are able to achieve $10 million in options taker volume via Paradigm by October 11th, will enjoy an extension of the discounted fee period.
Ben Zhou, co-founder and Chief Executive Officer (CEO) of Bybit expressed his excitement towards the collaboration with Paradigm. He further emphasized Bybit’s commitment and dedication to pioneering innovation and providing sophisticated trading tools for institutions. Per a statement from Zhou, the alliance further strengthened the exchange’s position as a leading player in the crypto derivatives market.
Paradigm also shared the same positive energy towards the collaboration. Anand Gomes, the co-founder and CEO of Paradigm noted that both entities have an unwavering commitment to serve institutional clients. This recent development further underscores and testifies to their dedication to bringing crypto to these investors with ease.
“Together, we pave the way for a future where accessibility and innovation converge,” Gomes added.
Growing Alliance Between Bybit and Paradigm
It is worthy of note that this is not the first collaboration between the duo as they have both enjoyed a long-standing relationship over the years.
About five months ago, Bybit and Paradigm entered a strategic partnership to launch spreads trading on USDT-margined instruments to give traders a more streamlined experience. Also, it allows traders to trade the spread between USDT margined spot and perpetual contracts without impacting the order book or incurring leg risk no matter the trade size.
Bybit’s commitment to institutional clients is also seen in its integration of Cooper’s ClearLoop network. The crypto exchange adopted this solution to provide clients with an off-exchange settlement option which reduces the risks of counterparty and also increases capital efficiency. This offering availed its institutional clients a streamlined and more efficient way to trade cryptocurrencies.
Ultimately, Bybit’s options market is focused on offering flexibility with daily, weekly, monthly, and quarterly expiries on Bitcoin (BTC) and Ethereum (ETH). Its trading platform provides robust functionality, world-class infrastructure, and deep liquidity to support these wide ranging promotions.
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