Bybit and Paradigm have formed a partnership to launch a new high-liquidity trading product.
This will further boost the role of Bybit in the broader crypto ecosystem.
Bybit trading platform has announced its strategic partnership with Paradigm to launch spreads trading on USDT-margined instruments. According to a Press Release shared with Crypto-News Flash, this collaboration consolidates the long-standing relationship between both companies and will grant traders access to spread order books on more than 30 digital currencies.
Bybit is known as one of the fastest-growing digital currency trading platforms in the Web3.0 world and ranks as the third most visited exchange. With its commitment to serving its users through high trading tech and simplicity, it said the new feature being launched will be accessible to all traders with just a single click.
The complication on trading platforms has been cited as one of the ultimate barriers to entry for most users into the crypto ecosystem. Understanding this, Bybit has paid extra attention over the years to products that are best appealing to customers. The collaboration with Paradigm, known as one of the fastest-growing crypto derivatives trading platforms, is set to add more depth to its offerings.
“We are thrilled that our collaboration with Paradigm has enabled us to provide traders with a more streamlined experience when it comes to spreads trading on USDT margined instruments,” said Ben Zhou, co-founder and CEO of Bybit. “This launch further demonstrates Bybit’s commitment to bringing next level opportunities to our clients via superior trading experiences with top notch partners.”
The better advantage that will be tapped is in the access to the spread trading on Paradigm that allows traders “to trade the spread between USDT margined spot and perpetuals without impacting the order book or incurring leg risk no matter the trade size”
As described by the trading platform, this provision will offer its users efficient execution of market-neutral trades on Bybit, as well as a liquid marketplace for executing perpetual funding rate strategies.
Bybit and Paradigm Showcasing the Strength in Collaboration
It is not uncommon to find two high-powered firms link up to avail members of the crypto community of new opportunities to showcase their skills and access new markets. The fact that both Bybit and Paradigm are now partners will grant deeper liquidity to USDT-Margined trades.
As a firm with high performance and record milestone, this move will generally contribute to the efficiency of the market in general.
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“We are delighted to partner with Bybit in launching spreads on USDT margined instruments,” said Paul Veradittakit, Partner at Paradigm. “This launch provides an extremely efficient way for traders to access markets in an easy and cost-effective manner. We look forward to continuing our work together in bringing new products and services for traders across the globe.”
As its custom, Bybit said it will be offering its users an incentive to commemorate the partnership. According to the trading platform, there will be no fees charged on the second leg of any spread trades executed via Paradigm and settled on Bybit.
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