UK based crypto futures trading platform, Crypto Facilities is launching a litecoin derivative product. As per announcement, the service will go live on June 22 with litecoin as the vital security.
Crypto Facilities is a trusted partner of private and institutional investors globally. The firm is regulated under UK Financial Conduct Authority. Moreover, its new futures trade service will allow investors to long or short futures contracts that have litecoin as extremely collateral.
CEO of Crypto Facilities, Timo Schlaefer said,
“We believe our LTC-dollar futures contracts will increase price transparency, liquidity as well as efficiency in the cryptocurrency markets”.
He said that decision is a result of having a “strong client demand” for litecoin contracts. According to announcement on Wednesday, 20 June, the new service of Litecoin futures trading will go live on June 22nd, Friday.
In response to the announcement, Charlie Lee, founder of Litecoin said that by commencing litecoin trading services to more institutional investors. However, the new product will help to increase cryptocurrency’s liquidity and makes simpler to deal with.
Moreover, the approach comes following Crypto Facilities announced the launch of Ethereum futures contracts that powers the ethereum blockchain.
“We are happy to be launching ETH futures. Since the Ethereum network is the pre-eminent blockchain for smart contracts. As well as we believe this new trading instrument will attract more investors and bring greater liquidity to the marketplace”.
Crypto Facilities claims that the trading volume of its Ethereum futures contracts to reach $150 million quarterly, accounting 10 percent of platform’s total.