They have been the pioneer in truly professional bitcoin derivatives, with no socialized losses. And now they are bringing their services to altcoins with Ripple derivatives. This will be interesting to watch.
In the announcement from CryptoFacilities, they said that it was in the works and to expect more in the coming months, so this is only an announcement of the partnership, no product has been released yet. However, their bitcoin product is working well and if you are into Ripple and want to prepare for when the launch happens later this year, it would be good to get on board.
CryptoFacilities is regulated by the FCA and takes KYC/AML very seriously. They're the only professional bitcoin futures exchange that does not have socialised losses.
See the newsletter from CryptoFacilities sent to their own customers below with the screenshot and quote after.
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Crypto Facilities is excited to announce a partnership with Ripple, a provider of global financial settlement solutions, to create a marketplace for XRP derivatives. Banks, market makers and traders are holding XRP in significant size and will be able to use the new market place to hedge their XRP price risk or to put on speculative positions.
Ripple solutions lower the total cost of global settlements by enabling banks to transact directly, without correspondent banks, and with real-time certainty of settlement. Ripple’s native currency XRP acts as a highly efficient bridge currency that enhances network effects and market depth across currency conversion rates on the Ripple network.
The new market place for XRP derivatives will adhere to Crypto Facilities’ professional standards in terms of regulatory compliance, secure asset custody and counterparty credit risk management. By complementing the existing XRP spot markets, it will further enhance price discovery and market efficiency of XRP.
Crypto Facilities’ partnership with Ripple is a further step towards establishing and institutionalizing derivatives on digital assets. Further detail on the new marketplace will be announced in the coming months.
Your Crypto Facilities Team