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Galaxy Digital and CoinFund Collaborate to Trade On-Chain OTC Options Tied to Digital Assets

Galaxy Digital, a crypto-focused firm, has teamed up with crypto investment firm CoinFund to trade on-chain over-the-counter (OTC) options tied to digital assets. Trading OTC options on-chain can alleviate credit risk and protect privacy, making it a next step for finance after the collapse of centralized entities in the segment.

On-chain settlement using smart contracts ensures collateral management and reduces credit risk associated with traditional OTC options trades. Galaxy used Aevo, an on-chain options trading platform developed by Ribbon Finance, to execute and settle the trade. Demand for on-chain solutions that offer transparency and less credit risk has increased following recent collapses in the crypto market.

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