Deribit Introduces Fiat to Crypto On-Ramp Through Integration with Legend Pay

Deribit traders can now purchase digital assets directly on the exchange using traditional payment methods.

Deribit, one of the world’s largest crypto derivatives exchanges, today announced the launch of a fiat to cryptocurrency on-ramp in collaboration with Legend Trading, a registered crypto trading company. Through this integration, traders can now purchase digital assets directly on the Deribit exchange in an easy and low cost method. At launch, Bitcoin (BTC), Ethereum (ETH), and USDC will be available for purchase through this on-ramp. This new fiat gateway creates truly global accessibility for Deribit users, with the platform accommodating transactions in 41 currencies.

Luuk Strijers, Deribit Chief Commercial Officer, commented on the news, “We are excited to unveil the integration of the fiat-to-crypto payment service. It represents a monumental achievement in our ongoing mission to make cryptocurrency derivatives trading more accessible and provide a means for traders to control all stages of the investment process. An addition of a fiat to crypto on-ramp underscores Deribit’s unwavering commitment to enabling traders from all locations in the world to access Deribit using their currency of choice and trade our ever-growing range of instruments.”

Coming six months after the launch of the spot trading exchange, this integration is the latest step for Deribit to build out its offering and create a one-stop-shop for digital asset trading. Deribit has seen an increase in activity over the past year, with overall trade volumes in USD increasing by 24.5% and BTC options rising by 47% between March 2023 and August 2023 compared to the previous six months (September 2022 to February 2023). This integration unlocks the global growth opportunities, removing the necessity to go to other exchanges in order to buy digital assets in order to trade on the Deribit platform. This gateway provides an easier on-ramp for new retail traders to enter cryptocurrency derivatives trading as well as improves cost for institutional trading by removing the middleman.

Hao Chen, Legend Trading CEO commented: “Legend Trading is delighted to collaborate with Deribit, one of the trailblazers in global exchanges, and we’re eager to enhance its client offerings. We recognize the importance of a smooth fiat-crypto payment gateway in shaping the future of the blockchain and crypto industry. Our ambition is to usher a billion users into the revolutionary domain of cryptocurrency — the forthcoming paradigm in finance. Legend Pay, with its user-centric approach, bridges the divide between traditional banking and the digital currency arena, aiming to serve everyone from individual investors to large institutional stakeholders.”

Deribit users may purchase BTC, ETH, and USDC using one of the available methods, which includes credit card payments or the option to make a direct deposit from the user’s bank account. Available currencies for international bank deposits include: US Dollar (USD), Euro (EUR), British Pound Sterling (GBP), Swiss Franc (CHF), Canadian Dollar (CAD), Australian Dollar (AUD), Japanese Yen (JPY), as well as an additional 34 currencies are available for on-ramping via credit card payments.

Starting October 2nd, 2023, we’re offering a promotion where users can utilize the fiat gateway for one month and incur no commission fees.

About Deribit

Deribit is a centralized, institutional-grade crypto derivatives exchange for options and futures trading. Deribit’s state-of-the-art infrastructure offers instantaneous price discovery, low latency trading, advanced risk mitigation services, and deep liquidity via its network of top-tier market makers. Led by a team with decades of experience in options trading across all markets, Deribit facilitates a significant majority of all crypto options trading and has robust proof of assets and liabilities procedures to ensure the exchange is held to the highest of standards.

For additional information, visit Deribit here.

About Legend Trading

Legend Trading is a leading, U.S. cryptocurrency trading firm trusted by over 800 institutional clients. It offers high-quality brokerage trading services, with a focus on regulatory compliance, robust IT infrastructure and settlement efficiency. Legend Pay, Legend Trading’s payment service, specializes in providing fiat-to-crypto payment gateways and financial solutions to crypto platforms. Legend Trading strives to bridge the gap between crypto and traditional financial systems through its innovative services.

Team’s vision is to create an enterprise software solution that would translate our domain expertise into practical, programmatic software services that can be easily leveraged by the crypto industry to grow the options market in a professional and sustainable manner.

Learn more about Legend Trading here, and see showcases here.

Media Contact

M Group Strategic Communications (On behalf of Deribit): [email protected]