Bitcoin.com Seeks to Launch Bitcoin Cash Derivative to Help BCH Grow
Bitcoin.com, the company backed by ardent Bitcoin Cash supporter Roger Ver, is reportedly looking to launch Bitcoin Cash futures to help the cryptocurrencys adoption grow.
According to Bloomberg, the head of Bitcoin.coms recently launched cryptocurrency exchange, David Shin, has initiated talks to list a BCH future on an exchange regulated by the Commodity Futures Trading Commission (CFTC), in a move set to generate volume for bitcoin cash.
In theory, he said, we should see more penetration ,more users, more trading and more volume on BCH. The moves ultimate goal is to help the cryptocurrency grow and eventually become second to only Bitcoin (BTC). Shin said:
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.
To engage more with retail traders, Shin is reportedly looking to develop an eSports-like trading tournament with the goal of creating cryptocurrency influencers that retail investors may end up gravitating to.
Shin noted he would love to speak with CME [Chicago Mercantile Exchange] about listing a BCH future on the platform. The CME has been trading BTC futures contracts in December of 2017, and is gearing up to launch another bitcoin derivatives product later this year.
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