Blockchain-powered capital markets infrastructure provider OTCXN has officially re-branded as Bosonic, the firm announced today.
In quantum physics, a “boson” is the force that serves as the glue that holds all matter together at the atomic level. Similarly, Bosonic is the glue between blockchain protocols and the transactional application ecosystem, the company says.
Founded in 2015 by FX and electronic trading expert Rosario Ingargiola, Bosonic eliminates risks so crypto markets can thrive. The firm has staff in San Francisco and New York, a future footprint is planned for London and Asia.
“We are excited to reintroduce ourselves and our mission to be the number one choice in clearing and settlement for counter parties at the custodial account level. Delivering this critical function without acting as a counter party to a transaction and without the use of a balance sheet will facilitate the scaling of the crypto ecosystem,” says Rosario M. Ingargiola, Founder and CEO.
“In the past, market participants and prospective investors may have been confused with our core value proposition and mislead by our old name. The Bosonic team are thrilled to continue to serve our clients who benefit from the elimination of counter party and settlement risk, even if they transact on other platforms,” he adds.
The firm notes that its continuous mission going forward is to empower banks, custodians, brokerages, and exchanges by offering an efficient automated process for mitigating risk in real-time, whilst increasing growth in tandem.
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Live product suite
Bosonic’s live product suite allows for custodians to generate additional revenue by providing automated settlement movements, self-directed client-to-client payments (24×7), and lending at scale.
It also enables brokerages to quickly deliver an institutional crypto trading platform to their clients.
Additionally, the product suite makes it possible for exchanges to offer non-custodial access to their liquidity through any custodian.
Dealers can reduce credit risk without directly holding client collateral, and automate their net settlement calculations and movements; end-user clients can trade on any liquidity directly from their own account at any custodian, with no risk to any counterparties.
White labeling of a complete exchange/ECN stack, including CLOB, Dark Pool, and Liquidity Aggregator with Smart Order Routing, RFQ-based OTC block trading platform, is also being enabled.
“The crypto market is finally starting to realize 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.
The company notes that it will continue its transition over the coming weeks across all online and social channels, as well as throughout its applications.