Crypto Facilities, a world-leading cryptocurrency trading platform, today announced the launch of the first BitcoinCash-Dollar (BCH/USD) futures to be offered by a regulated firm. The new derivatives contract will start trading at 4pm UK time on Friday 17th August.
The BitcoinCash-Dollar futures will enable professional investors to take a long or short position in the cryptocurrency, allowing them to broaden investment opportunities and hedge risk more effectively. The new contract further expands Crypto Facilities’ derivatives offering which includes Bitcoin, Ripple XRP, Ether and Litecoin futures. The firm also provides CME Group with the CME CF Bitcoin Reference Rate that powers CME Group’s Bitcoin futures, and the CME CF Ether-Dollar Reference Rate and Real Time Index. The Crypto Facilities trading platform offers individuals and institutions regulated, transparent and secure trading 24/7/365.
Timo Schlaefer, CEO of Crypto Facilities, said: “We are pleased to be expanding our cryptocurrency derivatives offering with the launch of BitcoinCash futures. BCH is a top five coin with a market capitalisation of around $10 billion1 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.”
Bert Mouler, CEO of Profluent Group, said: “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. Crypto Facilities is the first to provide such a service.”
Roger Ver, Adviser, Bitcoin Cash Association, said: “This is another example of how BitcoinCash is proving itself to be one of the most innovative and useful cryptocurrencies in the world.”