The firm supported by cryptocurrency Investor Roger Ver, Bitcoin.com, is getting ready to start a futures contract for BCH (Bitcoin Cash), which is as of now the world’s fourth-biggest cryptocurrency by Coinmarketcap. Bitcoin.com is additionally working on various plans to increase the interest in Bitcoin derivative Bitcoin Cash, which also includes a futures contract.
David Shin, the new head of its recently launched exchange unit, announced in the latest report that he had begun talks to list BCH derivatives product on CFTC (Commodity Futures Trading Commission ) which is a regulated exchange.
“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,” Shin stated.
The main objective of Bitcoin Cash is to become one of the biggest cryptocurrencies on the planet next to Bitcoin, as per David Shin.
Shin said that he had started discussions to list Bitcoin Cash futures product, and said:
“Would love to speak with CME about listing a BCH future.”
Moreover, CME Group Inc. as of now markets Bitcoin futures contracts, started in 2017, and is planning to launch a further bitcoin derivative product, which could be launched later this year.
My interview with Bloomberg news… https://t.co/kfYDRhTFij
— David Shin (@shin_novation) September 12, 2019
Besides, coming to the retail side, Shin has plans to build up an eSports like trading competition whose ultimate objective is to develop crypto experts, individual retail speculators who will incline toward an industry that is unequivocally identity-driven.
Moreover, Shin joined Bitcoin.com toward the end of August to operate its exchange business, which was started recently. One of the most outstanding supporters of Bitcoin Cash and referred to in the industry as “Bitcoin Jesus,” Ver, became executive Chairman in August, when he selected Stefan Rust as the latest CEO of Bitcoin.com.