Tanya Abrosimova
Independent Analyst
- Bitcoin.com seeks to launch Bitcoin Cash futures to promote BCH adoption.
- BCH/USD is sliding down amid general retreat on the cryptocurrency markets.
Bitcoin.com company is considering the launch of derivatives on Bitcoin Cash, the largest Bitcoin's spin-off. The company supported by one of the most prominent cryptocurrency evangelist Roger Ver, and now a vocal supporter of Bitcoin Cash is working on various initiatives to bring the coin closer to mass adoption.
“Within a year I want to make that the second- or third-largest market cap. To get from No. 4 to No. 3 or No. 2, we have to see more volume,” David Shin, a former head of global equity derivative sales at TD Securities, commented.
The company is in talks with Chicago Merchandise Exchnage (CME) with the aim to list BCH contracts on on a Commodity Futures Trading Commission-regulated exchange. It is worth noting, that currently CME offers Bitcoin futures contracts.
Apart from that, Shin considers partnering with a retail broker authorised to provide trading services on the territory of the United States. Such partnership would allow US citizes to get access to regulated BCH-based derivative instuments.
“We’ll try to list a BCH future on one of these exchanges that’s CFTC regulated to therefore have a product that can be traded into the U.S. with institutional traders. “n theory we should see more penetration, more users, more trading and more volume,” he added
Meanwhile, Bitcoin Cash is the fourth largest digital asset with a current market value of $5.4 billion. At the time of writing, BCH/USD is trading at $295.4, down nearly 2% in recent 24 hours. The coin has gained about 100% of its value since the beginning of the year, though it is still 30% lower from this time 12 month ago.
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