UK Exchange Adding LTC Futures, Lauded By Litecoin Creator

Litecoin

Crypto Facilities, a London-based digital asset exchange for cryptocurrency futures trading, is coming up with a litecoin (LTC) derivative.

The exchange announced Wednesday that their latest service will become operational on June 22 authorizing investors to deal long or short futures contracts having weekly, monthly and quarterly maturities — backed by litecoin (LTC).

There is a high demand for litecoin contracts from the firm’s clients according to Crypto Facilities CEO Timo Schlaefer.

He stated:

“We believe our LTC-dollar futures contracts will increase price transparency, liquidity and efficiency in the cryptocurrency markets.”

The company’s move was praised by Charlie Lee, chairman and managing director of the Litecoin Foundation, who observed that the derivative service can entice more institutional players, bring in more litecoin liquidity, and allow more people to easily trade the cryptocurrency.

The exchange has a number of crypto derivatives in its list which include bitcoin and XRP. Futures contracts based on Ripple’s native token have been launched last month. Crypto Facilities stated in its email to CoinDesk that approximately a tenth of the platform’s total trading volume is expected to come from ethereum futures contracts.

The company also provides cryptocurrency pricing data, in collaboration with CME group, to financial institutions, trading firms and data vendors across the world.

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