UK Crypto Futures Platform Launches Bitcoin Cash Contracts
British crypto-futures exchange Crypto Facilities, a partner of the largest North American financial derivatives market CME Group, is adding Bitcoin Cash contracts to its product list. Writes about this CoinDesk.
The company said on Friday that it is launching a new contract on a platform regulated by the UK FSA..
The Bitcoin Cash contract will complement the Crypto Facilities family of products, which already features derivatives for Bitcoin, Ethereum, XRP and Litecoin. Investors will now be able to take long and short positions in Bitcoin Cash, thus “expanding their investment opportunities and hedging risks more effectively.”.
“Bitcoin Cash is one of the top five cryptocurrencies by market capitalization, so it was logical to add BCH to BTC, ETH, XRP and LTC futures,” said Timo Schlafer, CEO of Crypto Facilities..
He expects the new product to be in demand among his customers, given the interest in other cryptocurrency futures. “Over a 24-hour period, our volumes reached $ 180 million. Our average daily volume is $ 20-60 million. We expect BCH to be as successful as BTC, XRP, ETH and LTC futures, all of which are characterized by significant volume”, he added. “Since 2015, we have seen a steady increase in volumes in the cryptocurrency derivatives space, with the most significant growth in the past year.”.
Although Crypto Facilities does not have a US subsidiary, the firm helped CME Group launch bitcoin futures last year. Crypto Facilities maintains two bitcoin indices used in CME Group products.
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