The company behind “the world’s first full-stack cryptocurrency ecosystem” has announced that it will use Nasdaq’s technology upon launch.
Bcause – which says it serves as a “one-stop-shop for all parts of the digital currency value chain” – is going to operate on Nasdaq’s matching engine, which it describes as the most widely used market infrastructure technology in the world.
The platform’s spot cryptocurrency market is scheduled to launch during the first half of 2019, complementing a “state-of-the-art” digital mining facility which made its debut in February 2018.
According to Bcause, the surveillance technology Nasdaq provides will ensure that its markets can be monitored for misconduct and manipulative activities that could put the interests of other users at risk.
Fred Grede, the CEO of Bcause, said Nasdaq’s Financial Framework infrastructure is going to be adapted to meet the specific demands of crypto investors, adding:
“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.”
Nasdaq’s technology is used by more than 250 organizations including regulators, exchanges and clearinghouses in dozens of countries around the world. Although Bcause is not the first crypto startup to use its technology, only a small amount of partnerships have been publicized to date.
Paul McKeown, a Nasdaq executive, added:
“Bcause has methodically built a unique ecosystem that gives investors, partners and market players a holistic experience in tapping the cryptocurrency market and value chain.”
“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.”
Bcause says its emphasis is on offering regulated and transparent markets for the crypto industry – as well as educating new investors and offering user-friendly technology. The company was founded in 2012 with the objective of offering an entire ecosystem, supplying mining rigs which are powered in an environmentally friendly way, right through to offering clients an insight into how they can invest in crypto while managing risk.