US-based OTCXN, a technology provider for cryptocurrency and digital asset markets, has officially re-branded as Bosonic.
According to the firm, the new name is a play on the term “boson” in quantum physics – the force that serves as the glue that holds all matter together at the atomic level. Similarly, it says, “Bosonic is the glue between blockchain protocols and the transactional application ecosystem.”
“We are excited to reintroduce ourselves and our mission to be the number one choice in clearing and settlement for counterparties at the custodial account level. Delivering this critical function without acting as a counterparty to a transaction and without the use of a balance sheet will facilitate the scaling of the crypto ecosystem,” says Rosario Ingargiola, founder and CEO. “In the past, market participants and prospective investors may have been confused with our core value proposition and misled by our old name. The Bosonic team are thrilled to continue to serve our clients who benefit from the elimination of counterparty and settlement risk – even if they transact on other platforms.”
“The crypto market is finally starting to realise that traditional institutional investors have a structural problem that is keeping them on the sidelines – they can’t transact on exchanges that hold client assets or directly with OTC dealers the way it is done today. Clearing and settlement at the custodial account level eliminates this barrier to entry,” says Ingargiola.