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Interview: UK Exchange Crypto Facilities Launches Litecoin Futures Trading

Interview: UK Exchange Crypto Facilities Launches Litecoin Futures Trading

A cryptocurrency futures trading platform based in the UK called Crypto Facilities is launching a new futures product allowing traders to take positions on Litecoin futures.

Crypto Facilities CEO Timo Schlaefer spoke to CCN about the project.

Crypto Facilities’  current derivates offering includes Bitcoin, Ripple, and Ethereum futures, with Litecoin being the newest addition.

Mr. Schlaefer stated that Litecoin’s liquidity was a factor in choosing to offer futures contracts on the currency rated at 6 in the top ten list of cryptocurrencies by market capitalisation with a total value of $5.5 billion a24-hour hour trading volume of $263 million.

He stated:

Crypto Facilities enables 24/7 trading and provides CME Group, the largest derivatives exchange in the world, with the CME CF Bitcoin Reference Rate that powers CME Group’s Bitcoin futures as well as the CME CF Ether-Dollar Reference Rate and Real Time Index.

The exchange will launch their Litecoin futures on Friday, June 22 and will enable traders to take long and short positions on futures contracts collateralized with Litecoin with weeekly, monthly, and quarterly maturities. Litecoin creator Charlie Lee commented on the exchange’s announcement saying: “Litecoin futures will open up LTC trading to more institutional investors. This will add to the liquidity of Litecoin and make it easier for people to get in and out of Litecoin.”

CEO Timo Schlaefer further revealed that the exchange may be expanding their derivatives offering to other digital assets soon, saying:

Featured image from Shutterstock.


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21.06.2018 / 12:55 74
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