Interesting news in today — UK-based cryptocurrency futures trading platform Crypto Facilities is launching a Litecoin (LTC) derivative product. It will go live this Friday, 22nd June.
It will allow investors to long or short futures contracts that have Litecoin as the supporting collateral, and will provide weekly, monthly and quarterly maturities.
Timo Schlaefer, CEO of Crypto Facilities, said the decision to launch the trading platform is the result of “strong client demand” for Litecoin contracts. He said: “We believe our LTC-dollar futures contracts will increase price transparency, liquidity and efficiency in the cryptocurrency markets.”
Charlie Lee, Litecoin’s creator, responded to the announcement saying: “By opening up Litecoin trading to more institutional investors, the new product will increase the cryptocurrency’s liquidity and make it easier for people to get in and out of Litecoin.”
Crypto Facilities launched Ethereum-based futures contracts last month, another addition to its portfolio of crypto-based derivative products that are already being traded on the platform, including Bitcoin and XRP.