UK-based cryptocurrency trading platform Crypto Facilities announced the addition of Bitcoin Cash to its list of derivative offerings.
It is the first BitcoinCash-Dollar futures to be offered by a regulated firm, the company said in a statement. The new derivatives contract started trading on Friday, August 17.
Crypto Facilities, which has partnered with CME Group to bring out Bitcoin futures in December 2017, said it considers Bitcoin Cash a top five coin with a market capitalization of around $10 billion.
Crypto Facilities trading platform offers individuals and institutions regulated, transparent and secure trading 24/7/365. The crypto exchange's offerings already includes Bitcoin, Ripple XRP, Ether, and Litecoin futures.
The firm also provides CME Group with Bitcoin Reference Rate, and Ether-Dollar Reference Rate and Real Time Index.
With the BCH/USD futures, professional investors could take a long or short position in the cryptocurrency and would allow them to broaden investment opportunities and hedge risk more effectively, the company noted.
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."
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