UK's Crypto Facilities, the platform for crypto futures trading, has announced a launch of a litecoin derivative product.
As the company stated, the new service will involve trading of USD-LTC futures. The launch date is reportedly slated for this Friday. As a result, investors will become able to sell or buy futures contracts under which LTC comes as IM with weekly, monthly and quarterly maturities.
The company CEO said that the decision to expand services seeing good demand for LTC contracts.
"We believe our LTC-dollar futures contracts will increase price transparency, liquidity and efficiency in the cryptocurrency markets," he commented.
At the same time, the founder of LTC stated that with such expansion LTC will become available to larger number of institutional investors and more people will get easier access to the coins, as the news reportrs read. Moreover, he added that "the new product would increase cryptocurrency's liquidity".
Notably, the company has added the product following the launch of ETH-based futures contracts. As reported CoinDesk citing the company spokesperson, Crypto Facilities believes ETH futures trading may reach some $150 million in Q3.