TradFi Veteran Shunyet Jan Appointed New Head of Derivatives Business at Bybit

Dubai, United Arab Emirates, October 7th, 2024

Bybit, recognized as the second-largest cryptocurrency exchange globally by trading volume, is excited to announce the appointment of experienced banker Shunyet Jan as the head of its derivatives division. This move highlights Bybit’s dedication to investing in talent that fosters innovation and upholds its leadership in the derivatives sector.

Supporting Growth Amidst Industry Changes

Shunyet Jan joins Bybit at a pivotal time for the cryptocurrency industry, where regulatory frameworks are evolving and new opportunities are presenting themselves. With decades of experience across both traditional and digital markets, he is well-equipped to steer Bybit’s derivatives division into its next growth phase.

Shunyet commented on the industry’s current landscape, stressing the need for clear regulatory guidelines. "The lack of well-defined regulations is hindering institutional adoption and creating unnecessary obstacles to market growth," he remarked. "At Bybit, I am dedicated to promoting transparent regulations and developing products that will build greater confidence among institutional investors."

He also pointed out the underdeveloped potential of options trading in the crypto space. "While options are a mainstay in traditional financial derivatives, they are still not widely used in crypto. As the market develops, I believe options will become a critical tool for risk management and yield generation, especially in the Asia-Pacific region, where their popularity is growing. My goal at Bybit is to create a top-tier options trading platform that matches the sophistication of traditional financial markets."

Leading Bybit’s Derivatives Strategy

In his new position, Shunyet will oversee the expansion of Bybit’s derivatives business, encompassing perpetual contracts, futures, and options. His vast experience in both Wall Street and high-frequency trading in Asia will be invaluable as he helps refine Bybit’s offerings to cater to the changing needs of both institutional and retail traders. His leadership is expected to further solidify Bybit’s status as a market leader by providing products designed for an advancing crypto landscape.

"Bybit has long been esteemed as a derivatives powerhouse, and I’m thrilled to contribute to its mission of becoming the ‘Crypto Ark’—a secure, innovative platform guiding traders into the next era of crypto and Web3," Shunyet shared.

Shunyet’s Career in Finance

Shunyet began his career on Wall Street, holding significant roles at various investment banks, where he specialized in program trading, exchange-traded funds (ETFs), and index arbitrage. His move to Asia immersed him in high-frequency trading and algorithmic strategies before he shifted his focus to the institutional crypto market. His diverse experience across traditional and digital finance positions him as a vital leader as Bybit continues bridging the gap between these two worlds.

"Shunyet’s extensive expertise in traditional finance and his insights into the crypto markets will enhance Bybit’s platform, especially in catering to institutional clients," stated Helen Liu, Chief Operating Officer of Bybit. "With Shunyet steering our derivatives business, we are set to improve our institutional offerings and broaden our reach into more sophisticated retail solutions."

"I’m eager to be part of Bybit at such a critical juncture for the industry. Bybit’s ambition, innovation, and focus on building a user-centric platform resonate with my vision for the future of crypto. I look forward to helping the company grow and introducing more advanced trading solutions to the market," remarked Shunyet Jan, Head of Derivatives at Bybit.

About Bybit

Bybit is a leading cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, it offers a professional platform where crypto investors and traders benefit from an ultra-fast matching engine, round-the-clock customer support, and a multilingual community. Bybit proudly partners with the reigning Constructors’ and Drivers’ champions of Formula One.

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This article originally appeared on Chainwire.