Bybit Debuts Industry-First Tokenized Gold Options

Bybit Pioneers Tokenized Gold Options, First Crypto Exchange to Offer RWA Derivatives

Bybit has announced the launch of XAUT options, marking a significant first for the cryptocurrency exchange industry by becoming the initial platform to offer options on a tokenized real-world asset (RWA).

This development represents a new chapter in the burgeoning market for tokenized assets, extending one of the most actively traded derivative instruments to tokenized gold. XAUT, which is backed by physical gold, provides traders with digital access to a historically stable store of value. The introduction of XAUT options allows traders to manage risk, articulate market perspectives, and capitalize on volatility opportunities within a crypto-native trading environment.

To facilitate this launch, Bybit has joined forces with Orbit Markets, a prominent provider of options liquidity and a long-standing partner on the platform. Orbit Markets brings extensive experience from both the digital asset and traditional finance derivatives sectors, ensuring robust liquidity and efficient execution for XAUT options trading.

In addition to the exchange-listed options, Bybit and Orbit Markets are also introducing Request for Quote (RFQ) functionality for XAUT options. This feature is designed to provide institutional and professional clients with access to customized over-the-counter (OTC) options trading. The RFQ system allows traders to solicit firm quotes for non-standard strike prices, bespoke expiry dates, and multi-leg strategies, offering enhanced flexibility for larger or more intricate trading requirements.

The integration of RFQ capabilities complements the existing exchange-listed XAUT options and further enhances Bybit’s capacity to meet both on-screen and institutional liquidity demands as the market for tokenized asset products continues its expansion.

“Bybit is proud to be the first crypto exchange to launch options on real-world assets,” stated Yoyee Wang, Head of Institutional and Enterprise Business at Bybit. “As tokenization accelerates, we believe the distinction between crypto and TradFi will continue to narrow.”

Caroline Mauron, CEO at Orbit Markets, commented, “We are pleased to deepen our partnership with Bybit through the launch of XAUT options. Gold options are a cornerstone of traditional derivatives markets, and we are excited to see growing interest in TradFi products within crypto.”

This launch underscores Bybit’s dedication to broadening access to tokenized real-world assets and fostering a more interconnected financial ecosystem. By bridging exposure to traditional assets with crypto-native infrastructure, Bybit continues to expand the array of trading tools available to participants across both digital and traditional markets.