Will Huobi Launch Ripple (XRP) Futures Soon?

By Prashant Jha

Huobi, the cryptocurrency exchange based in Singapore, is seemingly mulling over the possibility of issuing Ripple (XRP) futures or derivatives contracts very soon in the coming days, as a part of its expansion in the services and offerings it has for its users. It is apparently slated to be launched in the “very near future”.

This is the time when most of the virtual asset exchanges in business are trying to offer more products and services so as to tap into the diverse needs of different kinds of investors. Therefore, it is but natural that Huobi wants to catch up.

According to what Josh Goodboy, the general counsel of the crypto exchange told a crypto media outlet, said, the company is looking towards the launch of XRP futures contracts very very soon.

What are future contracts? Well, they are basically nothing but contracts or agreements that is meant to let traders to sell off and exchange a form of asset at a given price on a particular date at some point in the future.

Naturally, this is a very exciting piece of news but that does not mean it stops there. As per what Mr. Goodboy reportedly said, the company is also considering the possibility of launching several more cryptocurrency contracts this year itself.

Apparently, many more crypto products and services are awaiting rollout. Clearly, Huobi has a lot up its sleeve.

Goodboy, who also heads the global sales and institutional business aspect of Huobi, did not add too many details about the exact date on which the crypto enthusiasts and investors can expect these futures to be issued.

He, however, did add that more digital assets would find listing on this exchange and the product and service offering roster would be amped up and diversified with a higher degree of frequency

With regard to the business plan of the Huobi Exchange going forward, Goodboy stated:

“In the long term, we are going to continue building institutional-grade products, to further support, and capitalise, on the belief we have in the continuing involvement of institutional players.”

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