Nasdaq Licenses Tech to a ‘One-Stop Shop’ for Crypto Trading and Mining

March 13, 2019
33 Views

Bcause LLC, a self-described “full-stack cryptocurrency ecosystem,” plans to use Nasdaq technology to operate its markets.

The company announced Wednesday that it would be using Nasdaq’s matching engine, clearing and market surveillance tools through the Nasdaq Financial Framework platform to operate a spot cryptocurrency market, to be launched within the next few months.

Bcause has also filed to become a designated contract market and to launch a derivatives clearing organization with the U.S. Commodity Futures Trading Commission (CFTC).

According to a press release, Bcause plans to be the only “one-stop shop” to operate a spot trading market, crypto mining facility and a futures/derivatives clearinghouse, once regulators approve the latter offering.

In a statement, Nasdaq senior vice president and head of Marketplace Operators and New Markets Paul McKeown said Bcause “has methodically built a unique ecosystem that gives investors, partners and market players a holistic experience in tapping the cryptocurrency market and value chain.”

He went on to add:

“By leveraging the Nasdaq Financial Framework, Bcause will have the scalability and modular functionality to introduce new micro-services and expand its business offerings to meet industry demands and the evolution of the digital assets economy.”

Spotting misbehavior

Bcause CEO Fred Grede said in a statement that his company is “honored” to use its technology for its upcoming offerings.

Nasdaq’s surveillance technology, in particular, is aimed at ensuring that Bcause can monitor for market manipulation or other illicit behaviors, making both its spot and derivatives markets safer for the firm’s customers, according to the release.

“I fully expect that our markets will attract a broad range of users, from those who are already quite active in the financial markets and familiar with Nasdaq technology, to a new breed of investors wanting to participate in the growing cryptocurrency marketplace,” Grede added.

Nasdaq logo image via andersphoto / Shutterstock

https://www.coindesk.com/crypto-ecosystem-startup-taps-nasdaq-surveillance-tech-to-support-trading

You may be interested

eToro Acquires Smart Contract Infrastructure Provider Firmo
Blockchain
55 views
Blockchain
55 views

eToro Acquires Smart Contract Infrastructure Provider Firmo

btcethereumadmin - March 25, 2019

Image via eToro, Facebook Social trading and multi-asset brokerage company eToro has acquired Firmo, a smart contract infrastructure provider, for…

A Bitcoin Lightning Web Standard, Inspired By Ethereum, Is Gaining Steam
Bitcoin
61 views
Bitcoin
61 views

A Bitcoin Lightning Web Standard, Inspired By Ethereum, Is Gaining Steam

btcethereumadmin - March 25, 2019

Sending bitcoin lightning payments over the web might soon get easier. That’s because a new bitcoin standard for simplifying lightning…

Bitcoin’s Trading Range Narrows In March to Hit Two-Year Low
Bitcoin
61 views
Bitcoin
61 views

Bitcoin’s Trading Range Narrows In March to Hit Two-Year Low

btcethereumadmin - March 25, 2019

Bitcoin’s average daily trading range so far in March is its lowest in nearly two years when, at the time,…

Leave a Comment

Your email address will not be published.