Nasdaq and Bcause have announced that a suite of new cryptocurrency services will be offered via the Nasdaq Financial Framework. These services include crypto mining and custody solutions, as well as spot and derivatives trading. They are expected to attract a broad range of users including “a new breed of investors wanting to participate in the growing cryptocurrency marketplace.”
One-Stop Shop Crypto Services
Nasdaq Inc. and Bcause Llc announced on Wednesday that a suite of crypto services will leverage Nasdaq’s technology, elaborating:
Bcause’s markets will operate on Nasdaq’s matching engine, clearing and market surveillance technology via the Nasdaq Financial Framework platform.
The Nasdaq Financial Framework “consists of a single operational core that ties together the deep portfolio of Nasdaq’s proven business functionality across the trade lifecycle, in an open framework,” the company detailed.
Launched last year with a mining facility in Virginia Beach, Virginia, Bcause is building what it calls a “full-stack cryptocurrency ecosystem” which it also claims to be the world’s first. According to the announcement, the services to be offered via Nasdaq’s framework are “all parts of the digital currency value chain,” from a custody solution to the mining facility in Virginia Beach, to spot trading for digital assets, to a futures market and derivatives clearinghouse. The technology is expected to go live in the first half of this year with the launch of the Bcause spot cryptocurrency market.
In addition, Bcause revealed that it has filed with the U.S. Commodity Futures Trading Commission (CFTC) to become a designated contract market (DCM) and to establish a derivative clearing organization (DCO). The CFTC website describes that “DCMs may list for trading futures or option contracts based on any underlying commodity,