US Virginia-based stock market platform Bcause, plans to build fully equipped crypto money ecosystem using Nasdaq infrastructure.
The company announced that Nasdaq will form a crypto money exchange using pairing, cleaning and market surveillance tools. The stock market is expected to open after a few months. Bcause also applied to the US Commodity Commissions Commission (CFTC) in order to provide the contract market and derivative products.
According to the press release, Bcause aims to be the only platform on the market. Therefore, the services it will offer will include stock exchange, crypto-money mining and futures / product transactions. The company is currently awaiting approval by the regulators.
Nasdaq executives Paul McKeown said in a statement Bcause's practice would be a first for the investors, partners and market players, which would be the first to introduce:
By taking advantage of the Nasdaq financial framework, Bcause will have scaling and unitary operation and will be able to offer micro services. The company will be able to adapt to demand and keep up with the ever-changing digital economy.
Fred Grede, CEO of Bcause, said that they are proud of using Nasdaq technology. He added that Nasdaq technology is particularly effective in preventing market manipulation and other illegal activities. Stating that they will meet the users from different areas, Grede said that they will reach users familiar with Nasdaq technology and reach new users who want to take part in the crypto money field.
Source: Coin Türk