Bybit Introduces Dedicated Options Trading for Tether Gold (XAUT)

Bybit, a leading cryptocurrency exchange by trading volume, has added options trading for Tether Gold (XAUT), a token that represents ownership of physical gold.

The new XAUT options enable traders to hedge risk, speculate on gold price movements, trade volatility, and create custom strategies using Bybit’s Request for Quote (RFQ) system for over‑the‑counter (OTC) deals.

Bybit partnered with Orbit Markets, a prominent crypto options market maker, to ensure deep liquidity from launch. Orbit’s team includes former senior executives from precious‑metals trading desks, such as the ex‑APAC Head of Currencies and Precious Metals at Deutsche Bank.

“As tokenization accelerates, the line between crypto and TradFi continues to blur,” said Jimmy Yang, co‑founder of Orbit Markets. “Gold options are a cornerstone of traditional derivatives markets, and we’re seeing growing interest in TradFi‑style derivatives within crypto.”

The XAUT options are European‑style contracts settled in the stablecoin USDT. Each contract corresponds to one XAUT token, which represents one troy ounce of physical gold.

What Are Options?

Options are derivative contracts that give the buyer the right, but not the obligation, to buy or sell the underlying asset at a predetermined price before or on a specific date. A call option grants the right to buy, while a put option grants the right to sell.

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