The U.K. cryptocurrency exchange, Crypto Facilities regulated under the U.K. Financial Conduct Authority, is willing to add the support for Bitcoin cash product into its offerings. The post was released on the official website of the Crypto Facilities exchange.
The platform is also adding the trading pair namely bitcoin cash-dollar (BCH/USD) futures. The press release says that new derivatives contract has begun trading from August 17, at 4 pm UK time.
Crypto Facilities is the leading cryptocurrency trading platform, which launched its initial BitcoinCash-Dollar (BCH/USD) futures. However, this new contract will allow investors to make long/short positions with regards to bitcoin cash.
Customers can broaden their investment opportunities as well as hedge investment risks. Currently, the contracts include a list of derivatives provided by Crypto Facilities, which are Bitcoin (BTC), Ripple (XRP), Ethereum futures (Ether) and Litecoin (LTC) futures.
Now, in rolling out Bitcoin Cash futures, respective participant believes that this offering will drag more liquidity with exposure to the market.
The CEO of Crypto Facilities, Timo Schlaefer says:
We are pleased to expand our cryptocurrency derivatives providing the launch of BitcoinCash futures. BCH is amongst top five coins with a market cap of around $10 billion and we expect this new contract to spur the evolution of the cryptocurrency markets by welcoming greater liquidity, transparency to digital asset class.
The CEO of Profluent Group, Bert Mouler states:
Profluent Japan appreciates the opportunity to make markets in Bitcoin Cash derivatives on Crypto Facilities. However, the institutional trading community was in requirement of BCH hedging mechanism at an FCA-registered exchange with the good management team. In addition to this, Crypto Facilities is the first to offer such a service.
The Adviser at Bitcoin Cash Association, Roger Ver also says:
This is another instance of how Bitcoin Cash is proving itself to be amongst the most innovative and useful cryptocurrencies in the world.
Notably, Crypto Facilities is amongst the multiple cryptocurrency exchanges offering price data useful in Chicago derivatives exchange. In addition to this, the announcement of BCH derivative products on this platform will be the initial step towards eventually accessing bitcoin cash futures via major exchange.