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Crypt Stock Market Huobi soon offers Ripple XRP Futures

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Singapore-based crypto giant Huobi will soon offer derivatives for the cryptocurrency Ripple XRP.

Huobi's General Counsel, Josh Goodbody, recently explained Huobi's plans. According to the crypto exchange will soon offer futures on Ripple XRP. This should be done via the “Huobi Derivatives Market” (DM). Further, Goodbody said the company wanted to offer more futures for cryptocurrencies this year. In addition, they also want to introduce new contracts for other financial products. However, Goodbody did not name an exact date for the launch.

Essentially, a future is a futures contract. Under this contract, the seller agrees to sell a certain amount of a good (for example, a cryptocurrency) at a set time at a set price. The other party, the seller, undertakes to take delivery of the good at the due date at the agreed price, e.g. Buy Bitcoin at a pre-determined price. Trading in futures allows for high profits, but also involves a huge risk. That's because it's possible to lose more than you used to.

Who offers all crypto-futures?

At present, only four platforms offer futures on cryptocurrencies. This includes the company BitMEX registered in the Seychelles. The Hong Kong-based crypto exchange Bitfinex also offers the possibility to buy different types of cryptocurrency futures. Furthermore, the Chicago option exchanges CME and Cboe have been offering Bitcoin futures since December 2017.

In November 2018, Huobi announced its intention to introduce its own financial derivatives marketplace. In December 2018 it was time. Traders can now buy futures contracts on Bitcoin (BTC), Ethereum (ETH) and EOS. The listed contracts are open to traders worldwide. However, the contracts are not available to dealers in Singapore, China and the US. Recently, Huobi also announced that it can now also open short and long positions on Litecoin (LTC).

Other products at the institutional level

Since the beginning of the year, Huobi's derivatives marketplace has reached a trading volume of approximately $ 10 billion. Huobi recently announced that total trading since launch has exceeded $ 20 billion.

One of the company's goals in this area was the general counsel Goodbody:

“In the long term, we will launch more products at the institutional level. In this way we support and capitalize on our confidence in the further involvement of the institutional players. “

Malta-based crypto Binance also broke new ground at the beginning of the year. New features include a trading platform for over-the-counter (OTC) trading. Other platforms want to expand their offer. These include, for example, the crypto exchange AAX from Hong Kong. For this purpose, the company has previously acquired a license to use the London Stock Exchange trading software.

Author: Peter Joost – Source Post: https://www.kryptovergleich.org/kryptoboerse-huobi-offer-bald-ripple-xrp-futures-an/

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