U.K.- Based Crypto Facilities Released Bitcoin Cash Futures
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Bitcoin Cash Network kicked off again after a European derivatives exchange released the first regulated USD-powered BCH futures.
The UK-based cryptocurrency exchange and indices, Crypto Facilities, announced before the weekend about launching the first USD-BCH futures service. Now, investors have the green light to bet on the future price development of Bitcoin Cash, the fourth largest cryptocurrency in the world by market capitalization.
“We are pleased to be expanding our cryptocurrency derivatives offering with the launch of Bitcoin Cash futures,” claimed Crypto Facilities CEO Timo Schlaefer in a statement. “BCH is a top five coin with a market capitalisation of around $10 billion and we expect our new contracts to spur the evolution of the crypto markets by bringing greater liquidity and transparency to the digital asset class.”
“This is another example of how Bitcoin Cash is proving itself to be one of the most innovative and useful cryptocurrencies in the world,” added BCH evangelist Roger Ver.
Tokyo-based financial firm Profluent Japan was excited about the news, indicating that the company will benefit from this opportunity:
“Profluent Japan welcomes the opportunity to make markets in BCH derivatives on the Crypto Facilities platform. The institutional trading community was in great need of a proper BCH hedging mechanism at an FCA-registered exchange with a first class management team,” explained Profluent Group CEO Bert Mouler.
“Crypto Facilities is the first to provide such a service.”
Besides Bitcoin Cash-powered futures, Crypto Facilities also supports Bitcoin, Ethereum, Ripple, and Litecoin. At the beginning of 2018, the UK-based company reported a significant increase irrespective of the bearish market. According to Crypto Facilities CEO Tim Schlaefer, the company’s volume grew by 84% from Q4 2017 to Q1 2018. At that time, the CEO expected by Q2 2018 the volume to double.
According to CoinMarketap, Bitcoin Cash has a market cap of $9,929,246,299 and is traded at $573.90.
Author: Adriana Midrigan
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