Bybit Appoints Shunyet Jan to Lead Derivatives Division
Dubai, United Arab Emirates, October 7th, 2024, Chainwire
Bybit, the world’s second-largest crypto exchange by trading volume, has made a significant move by bringing in seasoned banker Shunyet Jan to spearhead its derivatives division. This strategic appointment reaffirms Bybit’s dedication to nurturing top talent that fosters innovation and upholds its dominant position in the derivatives market.
Supporting Growth Amidst Industry Changes
Shunyet Jan’s arrival at Bybit comes at a pivotal juncture in the crypto sector, characterized by evolving regulatory landscapes and emerging opportunities. With a wealth of experience spanning both traditional and digital markets, Shunyet is well-equipped to steer Bybit’s derivatives division towards its next phase of expansion.
Shunyet emphasized the significance of clear regulatory frameworks in the industry, stating, “The absence of well-defined regulations is hindering institutional adoption, thereby creating unnecessary obstacles to market growth. At Bybit, my mission is to champion transparent regulations and develop innovative products that instill greater confidence among institutional investors.”
He also shed light on the untapped potential of options trading in crypto markets, saying, “While options reign supreme in traditional financial derivatives, they are underutilized in the crypto realm. As the market matures, options are poised to become a crucial tool for risk management and yield generation, particularly in the APAC region where they are gaining traction. My objective at Bybit is to build a cutting-edge options trading platform that mirrors the sophistication of its traditional counterparts.”
Leading Bybit’s Derivatives Strategy
As the head of derivatives at Bybit, Shunyet will oversee the growth of the exchange’s derivatives business, encompassing perpetuals, futures, and options. Leveraging his extensive background in Wall Street and high-frequency trading in Asia, Shunyet will refine Bybit’s product offerings to cater to the evolving needs of both institutional and retail traders. His leadership will play a pivotal role in solidifying Bybit’s position as a market leader, offering products tailored for a rapidly evolving crypto landscape.
“Bybit has long been synonymous with derivatives excellence, and I am thrilled to contribute to its vision of being the ‘Crypto Ark,’ a secure, innovative platform guiding traders through the next phase of crypto and Web3,” Shunyet expressed.
Shunyet’s Career in Finance
Shunyet’s career commenced on Wall Street, where he held key roles at various investment banks, specializing in program trading, ETFs, and index arbitrage. His transition to Asia immersed him in the dynamic realm of algorithmic and high-frequency trading, eventually leading him to focus on institutional crypto markets. His diverse expertise across traditional and digital finance positions him as a valuable leader as Bybit continues to bridge the gap between these two worlds.
“Shunyet’s profound understanding of traditional finance and his insights into the crypto markets will elevate Bybit’s platform, particularly in serving the institutional audience,” remarked Helen Liu, Chief Operating Officer of Bybit. “With Shunyet steering our derivatives business, we are poised to enhance our institutional offerings and broaden our reach with more sophisticated retail solutions.”
“I am thrilled to be part of Bybit at this pivotal juncture for the industry. Bybit’s ambition, innovation, and focus on creating a user-centric platform align with my vision of where crypto is heading. I eagerly anticipate contributing to the company’s growth and introducing more sophisticated trading solutions to the market,” mentioned Shunyet Jan, Head of Derivatives at Bybit.
About Bybit
Bybit stands as the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit offers a professional platform where crypto investors and traders can access an ultra-fast matching engine, round-the-clock customer service, and multilingual community support. Bybit takes pride in its partnership with Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
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ContactHead of PRTony AuBybittony.au@bybit.com