CME Futures Partner Releases First Regulated Bitcoin Cash Futures
Cryptocurrency trading platform Crypto Facilities has included Bitcoin Cash (BCH) to its list of futures products, declaring in an official statement that the products would go live at 4 PM BST Friday, August 17.
Crypto Facilities, which rose to unmistakable quality when it cooperated with CME Group on its first-of-its-kind Bitcoin futures in December 2017, said the move reflected Bitcoin Cash’s status as a “top five coin” by market cap.
The platform offers Bitcoin (BTC), Ripple (XRP), Ethereum (ETH) and Litecoin (LTC) futures.
CEO Timo Schlaefer commented in a release that “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.”
Imminent investors will now have the capacity to have exposure to BCH in what allegedly constitutes the first FCA-regulated futures alternatives for the cryptocurrency.
The move comes when Bitcoin Cash is getting mixed press attention over indicated plans by Bitmain to play out an Initial Public Offering (IPO) soon.
The organization had exchanged all its Bitcoin possessions for Bitcoin Cash, leading numerous observers to raise worries over big liquidity issues because of BCH’s generally illiquid trading market.
In the meantime, developers this week released another protocol permitting the arrival of Initial Coin Offering (ICO) tokens on the Bitcoin Cash network.