The exchange by the UK Financial Conduct Authority (FCA) added the new BCH futures on to its cryptocurrency based product list.
Bitcoin Cash enthusiasts were excited following the addition BCH futures market onto regulated exchange crypto Facilities. BCH/USD futures added to crypto facilities line up of Bitcoin, Ripple, Litecoin, and Ethereum. It is expected to boost the cryptocurrency market.
“We are pleased to be expanding our cryptocurrency derivatives offering with the launch of Bitcoin Cash futures. Timo Schlaefer, CEO of Crypto Facilities told local news media.
Bitcoin cash is among the top five cryptocurrencies traded in the global market with a market capitalization of over $10 billion. Mr. Schlaefer believes that the additional new contracts would spur the evolution of the crypto markets. He explained that this would be achieved by bringing greater liquidity and transparency to the digital asset class.
BCH Trading in a UK Government Regulated Ecosystem
The addition of BCH futures contracts to Crypto Facilities allow individuals and institutions the ability to invest in BCH futures in a regulated environment.However, many governments around the world especially in countries with no proper cryptocurrency regulation contest Cryptocurrency trading. Accordingly, the BCH-USD futures contracts would allow long and short positions giving investors the ability to better manage risks.
Bitcoin cash, a fork on the bitcoin core network gained popularity among many who are discontent with some laws governing bitcoin. Moreover, the cryptocurrency is evolving attracting new capital investment from businesses and cryptocurrency startups around the globe.