CRYPTO & BLOCKCHAIN ASSET EXCHANGE/TRADE
Changelly
Deribit
Vaultoro
Evolve Markets
Binance

Pending US regulated bitcoin derivatives exchange Bcause chooses Connamara for platform

Pending US regulated bitcoin derivatives exchange Bcause chooses Connamara for platform
The initial launch from BCause was a gamified version for put and call options of bitcoins denominated in US dollars. The exchange is looking at platform provider CQG for integration.

Connamara Systems today announced Bcause LLC, a privately held exchange operator that will create a market for trading futures and options on cryptocurrencies, has selected Connamara as the technology platform provider for a newly proposed exchange-based and regulated in the US.

Currently pending approval from the Commodity Futures Trading Commission (CFTC) as a fully regulated Designated Contract Market (DCM), Bcause plans to be the first exchange to legally offer a variety of derivatives in the US for retail customers based on bitcoin and other cryptocurrencies.

Connamara will be working closely with BCause’s staff on design, testing, and implementation with a targeted production launch coinciding with CFTC approval expected later this year.

Jim Downs, CEO of Connamara, stated:

“We’re delighted to be working with BCause on this exciting new venture. We look forward to a long and mutually beneficial relationship.”

Pending US regulated bitcoin derivatives exchange Bcause chooses Connamara for platform
CEO of Bcause, Michael Adolphi

Michael Adolphi, CEO at Bcause, said:

“The cryptocurrency ecosystem desperately needs financial products that allow the investor to hedge risk. Our products combined with Connamara’s extensive experience and success in providing technology in the regulated exchange space really differentiated them from the competition and made our decision easy. We particularly appreciate their flexibility in meeting our unique requirements and aggressive timelines.”

Bitcoin has been classified by the federal government as an asset, however, in reality, it acts as an asset, a currency, and a stock. As an asset bitcoin could appreciate well because the algorithm powering the system is designed based on decelerating supply. As a currency bitcoin could grow exponentially as POS services mature around it.

However, bitcoin is subject to unpredictable circumstances just like any stock on the market. Therefore, although the underlying architecture is designed with appreciation in mind, good news or bad news can sway the price of bitcoin day to day, like we just saw with the SEC rule change approval decision for a bitcoin ETF. Therefore, futures and options contracts are incredibly important, especially for businesses that accept and hold bitcoin.

Source:Connamara
loading...

Comments

Don`t copy text!
Subscribe Share
×
Thank you for subscription!
 
×
×