Bybit appoints Sebastian Gawenda as head of options business

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BybitThe UAE-based cryptocurrency exchange has hired Sebastian Gawenda as head of its options business.

Gawenda joins Bybit as an experienced institutional sales expert. He previously led the institutional sales team for the Crypto.com spot and derivatives exchange.

Earlier, Gawenda was instrumental in directing Kraken’s institutional relations and solutions group across Europe, the Middle East and Africa.

“There is huge demand for options settled in USDC and provide access to the booming spot and derivatives markets,” Sebastian said. “I have observed this need in my conversations with institutional and individual traders. I am excited to join Bybit, which already has a thriving spot and derivatives market, unified trading accounts, cutting-edge technology and an outstanding team – which It’s a winning combination!”

Gawenda is also an experienced algorithmic equity options trader with a traditional finance background. His technical expertise and knowledge of traditional and crypto-native industries make him the ideal candidate to bridge the two worlds.

Zhou Ben, co-founder and CEO of Bybit, said:

“We are pleased to welcome Sebastian to the Bybit family. His expertise and track record in institutional sales and options trading make him a valuable addition to our team. With Sebastian leading our options department, We are confident in our ability to provide enhanced trading services to institutional clients in the future.”

The derivatives market continues to grow, with competitors such as Deribit, OKX and Binance consolidating their positions and meeting growing market demand.

Bybit has been expanding its services globally. In 2022, it launched the first Bitcoin and Ethereum options contracts settled in USDC.

Recently, Bybit completed the first inter-school hackathon at the American University of Sharjah in the United Arab Emirates.

In October, Bybit launched cryptocurrency derivatives and new fiat currency onboarding services in South Africa through its subsidiary Money Doc (Proprietary) Limited.

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