Cryptocurrency ecosystem developer Bcause has announced that it will use NASDAQ’s cryptocurrency financial platform.
Bcause will use the platform to launch its spot trading crypto market.
This is a pure technology licensing agreement, so what we’re licensing is their order entry platform, their trade matching system, their clearing systems and their market surveillance systems.
In the original interview, Grede described the technology as “world-class” and that it has seen significant use all over the world. Grede also stated that such technology could confer special advantages when compared to what’s currently available to professional and institutional investors.
However, Grede also admitted to the tightening of regulatory procedures in regards to spot trading and the requirement of FinCEN registration.
You need money transmitter licenses because you’re exchanging U.S. dollars for crypto, so you actually have to go to all 50 states to get approval to operate as a money transmitter in those 50 states.
As a strategic move, Bcause will reportedly launch spot trading on the NASDAQ platform with derivatives and future trading “down the road.”