Bybit, a UAE-based crypto alternate, has employed Sebastian Gawenda as its choices enterprise chief.

Gawenda joins Bybit as an skilled institutional gross sales professional. He beforehand led the Institutional Gross sales groups for’s spot and derivatives exchanges.

Earlier, Gawenda was instrumental in guiding the Institutional Relationships and Options division for the EMEA area at Kraken. 

“There’s a big market demand for USDC-settled choices coupled with entry to a thriving spot and derivatives market,” mentioned Sebastian. “I’ve noticed this want in conversations with establishments and particular person merchants. I’m thrilled to hitch Bybit, which already boasts a thriving spot and derivatives market, a unified buying and selling account, cutting-edge know-how, and an distinctive workforce — it’s a profitable mixture!”

Gawenda can also be an skilled algorithmic equity-options dealer with a background in conventional finance. His technical experience and information of typical and crypto-native industries make him the perfect candidate to bridge the 2 worlds. 

Ben Zhou, co-founder and CEO of Bybit, mentioned:

“We’re delighted to welcome Sebastian to the Bybit household. His experience and observe document in institutional gross sales and choices buying and selling make him a precious addition to our workforce. With Sebastian main our Choices division, we’re assured in our means to supply enhanced buying and selling companies to institutional shoppers sooner or later.”

The derivatives market scene continues to develop, with opponents like Deribit, OKX, and Binance fortifying their positions and assembly growing market wants. 

Bybit has been increasing its companies globally. In 2022, it launched the primary USDC-settled choices contracts for Bitcoin and Ethereum. 

Just lately, Bybit accomplished its first Inter-Faculty Hackathon on the American College of Sharjah within the UAE. 

In October, Bybit launched its crypto by-product merchandise and a brand new fiat on-ramp service in South Africa through its subsidiary, Cash Doc (Proprietary) Restricted.

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