One of the fintech wants to cover all parts of the value chain for the institutional trade with Bitcoin & Co. The US fintech Bcause LLC should now have come a step closer to this goal, as it can be seen from a press release. Bcause launches a spot market on the electronic stock exchange Nasdaq in the first half of 2019.
In addition, according to the announcement, various applications are currently pending at the US Commodity Futures Trading Commission (CFTC). It is reportedly about licenses for the expansion of services. On the one hand, they want to receive the status of a Designated Contract Market, as well as the approval to operate as a clearing organization for crypto-derivatives.
Rapide Scaling since 2013
Upon approval, Bcause should rise to the top ranks of institutional financial institutions in the crypto sector. The company, which is based in Virgina Beach, set itself the goal of offering crypto derivatives in its foundation in 2013. But initially they started with the construction of a mining farm. According to the company, this is one of the largest on the North American continent. By and by, the company began to build the business into a holistic ecosystem for Bitcoin & Co.
Privilege for Bcause
With the cooperative, Bcause now also has access to the Nasdaq Financial Framework Platform, giving it access to one of the world’s most important financial infrastructures.
And for this reason Fred Grede, CEO of the company is also satisfied. He commented, “We have great respect for the Nasdaq brand and we are honored to be able to use these robust platforms tailored to our markets as the foundation of our technology.”
In addition to crypto affine private investors, Bcause targets institutional investors who have previously stayed away from the bitcoin market. They wanted to give a new cohort of investors access to the growing crypto market.
Also published on Medium.