Dubai, United Arab Emirates, October 7th, 2024, Chainwire
Bybit, the world’s second-largest crypto exchange by trading volume, is pleased to announce the appointment of seasoned banker Shunyet Jan to head its derivatives division. This appointment underscores Bybit’s commitment to investing in talent that drives innovation and sustains its leadership in its derivatives business.
Supporting Growth Amidst Industry Changes
Shunyet Jan joins Bybit during a transitional time in the crypto industry, where regulatory landscapes are shifting, and new opportunities are emerging. With his decades-long expertise spanning both traditional and digital markets, Shunyet is positioned to lead Bybit’s derivatives division into its next phase of growth.
Speaking on the current state of the industry, Shunyet emphasized his views on the importance of clear regulatory frameworks. “The absence of well-defined regulations is slowing institutional adoption, creating unnecessary barriers to market growth,” Shunyet noted. “At Bybit, I’m committed to advocating for transparent regulations and developing products that will inspire greater confidence among institutional investors.”
He also highlighted his perspective on the untapped potential of options trading within crypto markets. “While options dominate traditional financial derivatives, they remain underutilized in crypto. As the market matures, I believe we will see options become a pivotal tool for risk management and yield generation, especially in the APAC region where they have already surged in popularity. My goal at Bybit is to build a world-class options trading platform that reflects the sophistication of its traditional counterparts.”
Leading Bybit’s Derivatives Strategy
In his new role, Shunyet will oversee the growth of Bybit’s derivatives business, which includes perpetuals, futures, and options. With his extensive experience in both Wall Street and high-frequency trading in Asia, Shunyet will help refine Bybit’s offerings to meet the evolving demands of institutional and retail traders alike. His leadership will be instrumental in further solidifying Bybit’s position as a market leader, offering products designed for a rapidly advancing crypto space.
“Bybit has long been recognized as a derivatives powerhouse, and I’m excited to contribute to its vision of being the ‘Crypto Ark,’ a secure, 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 fast-paced world of algorithmic and high-frequency trading, before eventually turning his focus to institutional crypto markets. His cross-disciplinary experience across traditional and digital finance makes him a valued leader as Bybit continues to bridge the gap between the two worlds.
“Shunyet’s profound expertise in traditional finance and his insights into the crypto markets will elevate Bybit’s platform, particularly in serving the institutional audience,” said Helen Liu, Chief Operating Officer of Bybit. “With Shunyet at the helm of our derivatives business, we’re poised to enhance our institutional offerings and expand our reach into more sophisticated retail solutions.”
“I’m excited to be part of Bybit at such a pivotal moment for the industry. Bybit’s ambition, innovation, and focus on building a user-centric platform align with my vision of where crypto is headed. I look forward to contributing to the company’s growth and bringing 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 provides a professional platform where crypto investors and traders can find 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 Red Bull Racing team.
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