SINGAPORE, 10 June 2019 – Sparrow, the Singapore-based options trading platform has launched its revolutionary platform which empowers institutions and individuals to trade options that are settled by smart contract. Sparrow offers a simple and secure way for traders to control risk in the volatile digital asset market and monetize their assets.
With its full-featured and highly-liquid options trading platform, Sparrow aims to bring professional trading tools to everyone. Users can trade customized European options with no counterparty risk and instantly convert over 25 trading pairs at zero cost with Sparrow’s ConvertNOW Facility.
Kenneth Yeo, CEO of Sparrow said “We understand the challenges all traders face while trading digital assets. Options used to be an instrument only professionals could use. With the launch of Sparrow, everyone can use options. We built Sparrow to make trading options simple, secure and accessible.”
In just three simple steps, users can start trading with Sparrow’s option products – TradeBOOST and TradePROTECT. Sparrow also provides high-performance trading tools and hedging solutions for professional and institutional traders through a global liquidity book, trading APIs, and a full options order book.
Sparrow Options are settled on Ethereum smart contracts and deployed onto a Proof of Authority chain called Nidus. Through a hybrid off-chain on-chain approach, traders enjoy a seamless trading experience with a responsive and updated order book, coupled with transparent and automated settlement of digital assets options.
Kenneth added, “Sparrow has managed to transform a traditionally complex and illiquid trading instrument, bringing options trading to the mass market. Sparrow Options are more liquid than OTC options and more customizable than standardized contracts, enabling traders to enjoy the best of both worlds.”
To serve a diverse ecosystem, the Sparrow Dollar (SP$) is used as the settlement currency of the Sparrow…