Bybit appoints Sebastian Gawenda as options business leader

Bybit, a UAE-based crypto exchange, has hired Sebastian Gawenda as its options business leader.

Gawenda joins Bybit as an experienced institutional sales expert. He previously led the Institutional Sales teams for Crypto.com’s spot and derivatives exchanges.

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

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“There’s a significant market demand for USDC-settled options coupled with access to a thriving spot and derivatives market,” said Sebastian. “I’ve observed this need in conversations with institutions and individual traders. I’m thrilled to join Bybit, which already boasts a thriving spot and derivatives market, a unified trading account, cutting-edge technology, and an exceptional team — it’s a winning combination!”

Gawenda is also an experienced algorithmic equity-options trader with a background in traditional finance. His technical expertise and knowledge of conventional and crypto-native industries make him the ideal candidate to bridge the two worlds. 

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

“We are delighted to welcome Sebastian to the Bybit family. His expertise and track record in institutional sales and options trading make him a valuable addition to our team. With Sebastian leading our Options division, we are confident in our ability to provide enhanced trading services to institutional clients in the future.”

The derivatives market scene continues to grow, with competitors like Deribit, OKX, and Binance fortifying their positions and meeting increasing market needs. 

You might also like: ByBit to pause operations in the UK following new crypto rules

Bybit has been expanding its services globally. In 2022, it introduced the first USDC-settled options contracts for Bitcoin and Ethereum. 

Recently, Bybit completed its first Inter-College Hackathon at the American University of Sharjah in the UAE. 

In October, Bybit launched its crypto derivative products and a new fiat on-ramp service in South Africa via its subsidiary, Money Doc (Proprietary) Limited.

Read more: An in-depth look at the regulatory landscape of privacy coins

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