Bybit begins Tether Gold options trading via OTC request-for-quote system
Bybit introduced options on Tether Gold on June 16, 2026. The contracts are European-style and settled in USDT.
CoinDeskBybit launched options trading on Tether Gold (XAUT) on June 16, 2026. The contracts allow traders to hedge risk, speculate on gold prices, trade volatility, and build custom strategies. The options are European-style contracts settled in USDT.
Each contract corresponds to one XAUT token, which represents one troy ounce of physical gold. Bybit partnered with Orbit Markets to provide liquidity. Orbit Markets’ team includes the former APAC Head of Currencies and Precious Metals at Deutsche Bank.
Jimmy Yang, co-founder of Orbit Markets, said the move reflects narrowing distinctions between crypto and traditional finance. Trading occurs through Bybit’s Request for Quote system for over-the-counter deals. Bybit ranks among the world’s top cryptocurrency exchanges by trading volume.
XAUT options have been available on CoinCall since November 2024. Bybit’s entry marks the first time a top-tier exchange has offered them with institutional-grade liquidity support. The global gold options market is a multi-billion-dollar industry.
Exchanges dominating that market include CME and India’s MCX, with a large portion of volume traded over the counter.
