Crypto Facilities, a UK-based cryptocurrency trading platform that launched Bitcoin (BTC) futures with the CME Group last December, now offers futures for Bitcoin Cash (BCH). In a company press release published Friday morning, it said that the futures products would be available that same day. Crypto Facilities had already offered, in addition to the BTC futures, futures for Ethereum, Litecoin and Ripple.
Timo Schlaefer, the CEO of Crypto Facilities, said in the announcement, “We are pleased to be expanding our cryptocurrency derivatives offering with the launch of [Bitcoin Cash] futures. BCH is a top five coin with a market capitalization 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.”
Bert Mouler, CEO of Puerto Rico-based trading management firm Profluent Group, is excited about the new BCH futures products. He 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.”
According to the press release, “The Bitcoin Cash-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.”
Roger Ver, BCH heavyweight and angel investor, said, “This is another example of how Bitcoin Cash is proving itself to be one of the most innovative and useful cryptocurrencies in the world.”
This will be the first time BCH futures options have been offered by a company regulated by the UK’s Financial Conduct Authority. It comes as the BCH network continues to innovate and introduce new characteristics that help it stand out as a true digital currency among the world’s top cryptocurrencies.
One such innovation is the recently introduced Wormhole project. It allows anyone to create a representative token on the BCH network and is designed to supplant the ERC-20 protocol, which has been used widely for ancillary token creation.
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.