First Full-Stack Cryptocurrency Ecosystem to Launch on Nasdaq Market Technology
According to a recent press release, released on Wednesday, March 13, Bcause’s markets will operate on Nasdaq’s matching engine, which includes the clearing and market surveillance technology via the Nasdaq Financial Framework platform. The technology will go live within the next few months. In addition to this, Bcause has also filed to become a designated contract market and to launch a derivatives clearing organization with the US Commodity Futures Trading Commission (CFTC). Once derivatives trading and clearing commence, Bcause will be the only venue to serve as a one-stop shop for all parts of the digital currency value chain: So this is from the state of the art digital mining facility that launched in February 2018 to spot trading for digital assets, to a futures and market derivatives clearinghouse which are currently awaiting approval.
Fred Grede, the CEO of Bcause noted that “we have tremendous respect for the Nasdaq brand and are honored that we can deploy these robust, tried-and-tested platforms – customized to our unique markets – as the foundation of our technology. 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.”
I definitely agree with Grede here. Nasdaq has a very strong brand presence and their platforms are widely tested and trusted in the world. This will definitely attract more users, especially those who are a bit more risk-conscious but are interested in participating in the cryptocurrency market. Just to give you guys an understanding of how big Nasdaq is, they are a leading global provider of trading, clearing, exchange technology, listing, information, and public company services. Nasdaq’s market technology powers over 250 of the world’s market infrastructure organizations and market participants in over 50 countries with end-to-end, mission-critical technology solutions.
So what are your thoughts on this situation guys?
Do you think Bcause’s decision to leverage Nasdaq’s market technology is a clever decision?
And do you think Bcause is going to make waves this year in 2019?
Let me know what you guys think in the comments below!
It’s Cindy with CryptoPig, Catch you guys around!