Nasdaq to Provide Technology for Cryptocurrency Ecosystem

Nasdaq Inc. and Bcause LLC, creator of a full-stack cryptocurrency ecosystem, announced that Bcause’s markets will operate on Nasdaq’s matching engine, with clearing and market surveillance technology provided by the Nasdaq Financial Framework platform. The technology is expected to go live in 1H 2019 with the launch of the new Bcause spot cryptocurrency market. In addition, Bcause has filed with the U.S. Commodity Futures Trading Commission to become a designated contract market (DCM) and to establish a derivatives clearing organization (DCO). The ecosystem includes a digital mining facility, spot market, regulated derivatives exchange and clearing house.