Bcause, which operates a digital mining facility, and a cryptoasset spot market, derivatives exchange and clearing house, has announced that its markets will operate on Nasdaq’s matching engine, clearing and market surveillance technology.
The technology is expected to go live in the first half of this year with the launch of the new Bcause spot cryptocurrency market.
In addition, Bcause has filed with the US Commodity Futures Trading Commission to become a designated contract market (DCM) and to establish a derivatives clearing organisation (DCO).
“We have tremendous respect for the Nasdaq brand and are honored that we can deploy these robust, tried-and-tested platforms – customised to our unique markets – as the foundation of our technology,” says Fred Grede, CEO of Bcause. “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.”