UK-based Crypto Trading Platform Launches Ethereum Futures Contracts

UK-based Crypto Trading Platform is Launches Ethereum Futures Contracts

A UK-based cryptocurrency trading platform, Crypto Facility is launching its first Ethereum Futures contracts. The firm announced this on Friday, 11th May. Crypto Facilities claims on its website that this is the first time futures for ethereum blockchain will be traded on a platform under regulation.

On its platform, Crypto Facilities which has partnered with Elliptic, the KPMG-accredited blockchain security firm disclosed that potential investors would be able to take long or short positions to enable them to explore all the possible investment opportunities available and also to effectively manage the risks involved in trading.

While discussing the new coin offering, the Chief Executive Officer (CEO) of Crypto Facility Timo Schlaefer disclosed that Ether – the token which powers the ethereum blockchain is the second most liquid cryptocurrency available after bitcoin. He added that the ether is trading at a daily volume in excess of billions of dollars.

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Tino further added that his firm is very much excited about the launching of the ETH futures, saying that the ether is the most optimized distributed ledger for conducting smart contracts. The Crypto firm is apprehensive of the potential the new trading instrument will have in attracting more investors and bring greater liquidity to the sector.

To help set in motion its smart contracts, Crypto Facility has collaborated with other liquidity providers like Akuna Capital and B2C2. To that regard, Toby Allen the head of digital assets at Akuna said in a statement that his company was “looking forward to seeing this much-needed product fill a gap in the market.” He further disclosed that developing an ethereum future contract is a giant leap in the development of the crypto asset class.

The other partner in the Crypto Facility ether-based smart contract B2C2 through its founder and CEO Max Boonen describes the move as a natural progression for ethereum’s token. He disclosed that “The continuing evolution and commoditization we’re seeing in ethereum will further increase liquidity in the marketplace, enabling participants to exchange assets seamlessly and unlock value. We look forward to providing liquidity for this new product.”

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