BCause Engages Nasdaq to Support its Crypto Projects

BCause LLC, a Virginia-based startup creating a full-stack cryptocurrency ecosystem, today announced that the firm has engaged NY Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term operator Nasdaq through integrating its Financial Framework.

BCause is already in the process of establishing a spot market, derivatives exchange, and Clearing House Clearing House A clearing house is defined as an intermediary between two parties, a buyer and seller, which helps facilitate the overall process from trade inception to settlement. Clearing houses streamline the exchange of payments, securities, or derivatives transactions.The clearing house is situated between two clearing firms who also helps reduce the risk of either member firm failing to honor their respective trade settlement obligations.Buyers and sellers enter into legally binding agreements for the e A clearing house is defined as an intermediary between two parties, a buyer and seller, which helps facilitate the overall process from trade inception to settlement. Clearing houses streamline the exchange of payments, securities, or derivatives transactions.The clearing house is situated between two clearing firms who also helps reduce the risk of either member firm failing to honor their respective trade settlement obligations.Buyers and sellers enter into legally binding agreements for the e Read this Term. The company’s strategy is to build a comprehensive cryptocurrency hub that caters to all market participants’ needs, from mining, to spot trading, to listed derivatives and clearing.

BCause says its crypto facilities will operate on Nasdaq’s matching engine, clearing, and market surveillance 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,” said BCause CEO Fred Grede.

Since the close of its Series B round last year, the firm has also applied to be derivatives clearing organization (DCO) and a designated contract market (DCM) with the Commodity Futures Trading Commission.

Nasdaq lends more credence to the crypto notion

Nasdaq Financial Framework aims to enable clients easily experiment with new applications such as smart contracts, without them having to build the infrastructure from scratch or require an in-depth knowledge of cryptocurrency.

More crypto startups want to hire Nasdaq’s SMARTS, an industry benchmark technology used across Wall Street, not only to add more security and identify criminal trading behavior in its venue but also as a proactive approach amid regulatory clampdowns looming now and then.

While Nasdaq is supplying its technology to cryptocurrency exchanges, the company itself consider becoming a crypto exchange over time.

The exchange operator previously revealed it has a team of about 20 legal and technical experts who apply certain due-diligence criteria to evaluate whether the applicant exchange is technically capable and “morally inclined to use the software wisely.”

“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,” added Paul McKeown, head of new markets at Nasdaq.