Crypto Facilities, a UK-based cryptocurrency trading startup recently took a big leap by introducing regulated Ethereum future contracts in the crypto market. It is the first crypto platform to launch regulated Ethereum futures contracts. New derivatives contract were made available in UK on May 11, 2018 from 4 pm onwards. The new Ethereum futures contracts sends out images that crypto agencies are daily working hard to transform and expand the cryptocurrency market as complex financial products such as index funds and crypto ETFs.
On Friday, Crypto Facilities stated that the Ethereum futures contract will lead to “bring greater efficiency and liquidity to crypto markets” which will help to broaden the risk less investment opportunities for the public.
Ethereum Futures Go Live
The new Ethereum features offered by Crypto Facilities will broaden the pool of choices offered by the platform.
During the launch Timo Schlaefer, CEO, Crypto Facilities, said“Ether is the second most liquid cryptocurrency after Bitcoin, trading in the billions of dollars daily, and we are excited to be launching ETH futures. The Ethereum network is the pre-eminent blockchain for smart contracts, and we believe this new trading instrument will attract more investors and bring greater liquidity to the marketplace.” Timo Schlaefer also highlighted that ether is the second-most liquid cryptocurrency after bitcoin with more than ‘billion of dollars’ trading volume.
Crypto Facilities are keen to join hands with liquidity providers BC2C and Akuna Capital with the aim to back the Ethereum futures contracts.
Toby Allen, the Head of Digital Assets at Akuna Capital, stated-“The addition of a futures product enables crypto traders to take both long and short positions in ETH and is another giant leap in the development of the crypto asset class.”
Crypto Facilities is an old player in the crypto futures market and it is already working in collaboration with the Chicago Mercantile Exchange to substantiate the CME CF Bitcoin Reference Rate, which is constitutive to the working of Bitcoin futures.