Gate.io launches XRP options, competes in crypto derivatives

The crypto derivatives market continues to be a fierce battlefield, where exchanges compete by constantly expanding their product portfolios to serve complex trading strategies. In this race, Gate.io has just taken a significant step forward by officially announcing the launch of XRP-USDT settled options trading on July 18.

1. Joining the "Elite club"

This move makes Gate.io only the third major exchange in the world to support XRP options, alongside the derivatives giants Deribit and Binance. Adding XRP, one of the coins with the largest communities and most active trading, to its options catalog is a strategic move to attract a large new user base.

Currently, Gate.io supports USDT-settled options for a range of top assets like BTC, ETH, SOL, Doge, ADA, LTC, and TON. The expansion of this portfolio provides traders with powerful and flexible tools to execute complex strategies or to hedge risks in their investment portfolios.

2. Building an ecosystem with an ambassador program

Not stopping at just launching a new product, Gate.io has also simultaneously kicked off an "Options Ambassador Recruitment Program." This is a smart marketing and community-building strategy aimed at influential figures such as content creators, professional traders, and industry KOLs.

Participants in the program will have the opportunity to receive rewards of up to 10,000 USDT along with other platform benefits. The goal of this program, according to Gate.io, is to "jointly build the options ecosystem."

This is a savvy strategy because options trading is a relatively complex field for many new users. Instead of just running ads, Gate.io is incentivizing experts to create educational content, tutorials, and analysis about their products. This not only helps to educate the community but also builds a loyal and knowledgeable user base, thereby driving trading volume in a sustainable way.

Overall, Gate.io's two-pronged strategy—both expanding its product to compete directly with the biggest rivals and investing in community-building through an ambassador program—shows a serious ambition to become a leading force in the global crypto derivatives market.