Deribit has launched a new fiat deposit channel by integrating Legend Pay.

Panama - October 2, 2023, Deribit, one of the world's largest cryptocurrency derivatives trading platforms, announced today that it has partnered with cryptocurrency trading company Legend Trading to launch a fiat-to-crypto deposit channel. Through this integration, traders can now purchase digital assets directly on the Deribit trading platform via bank transfer or credit card in a simple and cost-effective manner. The Legend Pay deposit channel currently supports 41 currencies and can be used to purchase BTC, ETH, and USDC, bringing true global availability to Deribit users.

Deribit's Chief Business Officer, Luuk Strijers, commented on this: "We are pleased to launch the integrated payment service from fiat to cryptocurrency. We have always been committed to making cryptocurrency derivatives trading more convenient and providing traders with means to control the entire investment process, which is a major achievement for us. The fiat-to-cryptocurrency deposit channel demonstrates Deribit's unwavering commitment to leading the development of financial technology by providing solutions that enable our traders to hedge investments and reduce risks with ease and confidence."

Deribit launched its spot trading section six months ago. This integration is the latest step taken by Deribit to improve its products and create an all-in-one digital asset trading platform. Over the past year, Deribit's trading activity has continued to increase, with a 24.5% increase in overall USD trading volume in Q2 and Q3 2023 compared to the previous six months, and a 47% increase in BTC options trading volume. This integration unlocks global growth opportunities, allowing users to trade digital assets directly on the Deribit platform without the need to go to other exchanges. This provides a more convenient deposit channel for new individual traders to participate in cryptocurrency derivatives investment, and significantly reduces the costs for institutional traders by eliminating intermediaries.

Legend Trading CEO Hao Chen said: "Legend Trading is honored to collaborate with one of the pioneers in global trading platforms, Deribit, and looks forward to enhancing service value for its customers. We fully recognize the importance of a smooth fiat-to-crypto deposit channel in shaping the future of the blockchain and cryptocurrency industry. Our goal is to enable billions of users to participate in the revolutionary field of cryptocurrency and embrace the future of finance. Legend Pay is user-centric, bridging the gap between traditional banking and digital currency, and providing services for all participants from individual investors to large institutions."

Deribit users can choose to use their traditional bank credit cards or transfer directly from their savings accounts to purchase BTC, ETH, and USDC. The available currencies for international bank deposits include: US dollars (USD), euros (EUR), British pounds (GBP), Swiss francs (CHF), Canadian dollars (CAD), Australian dollars (AUD), Japanese yen (JPY), and 27 other currencies that can be deposited via credit card payment.

About Deribit

Deribit is an institutional-level centralized cryptocurrency derivatives trading platform that specializes in options and futures trading. Deribit's advanced infrastructure provides real-time price discovery, low-latency trading, advanced risk management services, and deep liquidity through its top-tier market maker network. Led by a team with decades of experience in the global options trading market, Deribit offers convenient mainstream cryptocurrency options trading and has a robust asset and liability proof program to ensure it meets the highest industry standards.

About Legend Trading

Legend Trading is a leading US compliant cryptocurrency trading platform, trusted by over 800 institutional clients with an annual trading volume of over $10 billion. Its OTC trading business provides high liquidity and personalized services, suitable for brokers, investment advisors, family offices, private enterprises, and high net worth individuals. Legend Trading also offers a user-friendly fiat deposit channel product, Legend Pay, which can be integrated into banks, cryptocurrency trading platforms, wallets, and NFT trading platforms, allowing global users to purchase cryptocurrencies via bank transfer and credit card.

Welcome to join the official BlockBeats community:

Telegram Subscription Group: https://t.me/theblockbeats

Telegram Discussion Group: https://t.me/BlockBeats_App

Official Twitter Account: https://twitter.com/BlockBeatsAsia