On August 17, a cryptocurrency trading platform Crypto Facilities announced the launch of the first BitcoinCash-Dollar (BCH/USD) futures to be offered by a regulated firm. The new derivatives contract started trading at 4pm UK time on August 17.
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.
“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 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”, – said Timo Schlaefer, CEO of Crypto Facilities.
*BCH market capitalization is $9 800 580 203 at press time.