One self-described full-stack crypto ecosystem, called Bcause LLC, has some plans of using Nasdaq technology in order to operate its markets.
Bcause LLC announced the use of the Nasdaq technology
On Wednesday, the company Bcause LLC has published that it is going to use the matching engine, market surveillance tools, and clearing of Nasdaq through the Nasdaq Financial Framework platform, to operate a spot crypto market, to be launched within the following several months.
The company also failed to become the designated contract market, as well as to launch the derivatives clearing organization with the CFTC or Commodity Futures Trading Commission of the United States.
According to one press release, Bcause has some plans to be the only one-stop shop which will operate a spot trading market, cryptocurrency mining facility, and a futures derivatives clearinghouse, once when the regulators are going to approve the latter offering.
Bcause built a unique ecosystem
In one statement, the senior vice president and also the head of the Marketplace Operators and New Markets of Nasdaq, named Paul McKeown, said that Bcause has methodically built an authentic ecosystem which gives partners, investors, and also market players a holistic experience in the process of tapping the crypto market and value chain.
He continued, stating that by leveraging the Nasdaq Financial Framework, the company Bcause is going to have the modular functionality and scalability to introduce new micro-services, as well as expand its business offerings to meet industry demands and the evolution of the digital assets economy.
The company is honored to use this technology
The CEO of Bcause, named Fred Grede, said in one statement that his company is actually acknowledged to utilize the technology for the upcoming offerings.
The surveillance technology of Nasdaq is actually aimed at ensuring that Bcause can actually monitor for market manipulation or some other illicit behaviors, making its derivatives markets and spot safer for the customers of the firm.
Grade added that he fully expects that their markets are going to attract a wide range of customers and user, from the ones that are already active in the financial markets and are also familiar with the Nasdaq technology, to an entirely new breed of investors that want to participate in the growing crypto marketplace.