Dubai, United Arab Emirates, October 7th, 2024, Chainwire
Bybit, the world's second-largest cryptocurrency exchange by trading volume, has appointed seasoned banker Shunyet Jan to lead its derivatives division. This strategic move highlights Bybit's commitment to investing in top talent to drive innovation and maintain its leadership in the derivatives market.
Supporting Growth Amidst Industry Changes
Shunyet Jan's appointment comes at a pivotal moment in the crypto industry, marked by shifting regulatory landscapes and emerging opportunities. With his vast experience in both traditional and digital markets, Shunyet is poised to steer Bybit's derivatives division towards its next phase of growth.
Shunyet emphasized the importance of clear regulatory frameworks in the industry, stating, "The absence of well-defined regulations is hindering institutional adoption and impeding market growth. At Bybit, I am dedicated to advocating for transparent regulations and developing products to instill greater confidence among institutional investors."
He also highlighted the untapped potential of options trading in crypto markets, noting, "Options, a dominant tool in traditional finance, are underutilized in the crypto space. As the market matures, options will play a crucial role in risk management and yield generation, particularly in the APAC region where they are gaining popularity. My goal at Bybit is to build a cutting-edge options trading platform that rivals traditional counterparts."
Leading Bybit's Derivatives Strategy
In his new role, Shunyet will oversee Bybit's derivatives business, which includes perpetuals, futures, and options. With his extensive experience in Wall Street and high-frequency trading in Asia, Shunyet will enhance Bybit's offerings to meet the evolving needs of institutional and retail traders. His leadership will further solidify Bybit's position as a market leader, offering products tailored to the rapidly evolving crypto landscape.
"Bybit has long been known as a derivatives powerhouse, and I am thrilled to contribute to its vision of being the 'Crypto Ark,' a secure and innovative platform guiding traders through the next era of crypto and Web3," Shunyet shared.
Shunyet's Career in Finance
Shunyet's career began on Wall Street, where he held key positions at various investment banks, specializing in program trading, ETFs, and index arbitrage. His transition to Asia led him into the world of algorithmic and high-frequency trading, before focusing on institutional crypto markets. His diverse experience across traditional and digital finance makes him a valuable leader as Bybit bridges the gap between the two worlds.
"Shunyet's profound expertise in traditional finance and insights into the crypto markets will elevate Bybit's platform, particularly in serving the institutional audience," said Helen Liu, COO of Bybit. "With Shunyet leading our derivatives business, we are poised to enhance our institutional offerings and expand into more sophisticated retail solutions."
"I am excited to be part of Bybit at this pivotal moment for the industry. Bybit's ambition, innovation, and focus on a user-centric platform align with my vision for the future of crypto. I look forward to contributing to the company's growth and introducing more sophisticated trading solutions to the market," said Shunyet Jan, Head of Derivatives at Bybit.
About Bybit
Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit offers a professional platform with an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One's reigning Constructors' and Drivers' champions: the Oracle (NYSE:) Red Bull Racing team.
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ContactHead of PRTony AuBybittony.au@bybit.com
Analysis:
Bybit, the world's second-largest cryptocurrency exchange, has appointed Shunyet Jan, a seasoned banker with extensive experience in traditional and digital markets, to lead its derivatives division. Shunyet's focus on regulatory clarity and the untapped potential of options trading in the crypto space highlights Bybit's commitment to innovation and growth. His leadership is expected to enhance Bybit's offerings for institutional and retail traders, solidifying its position as a market leader. This move signifies a significant step towards bridging the gap between traditional and digital finance, ultimately benefiting investors and traders in the rapidly evolving crypto market.