Cryptocurrency ecosystem developer Bcause plans to utilize Nasdaq’s Financial Framework platform
As part of its ecosystem, Bcause is using Nasdaq's platform to launch its spot trading crypto market, Bcause
Grede noted Nasdaq's system has seen considerable worldwide usage."I've probably installed this system five times all over the world, in Hong Kong, in Bangkok," Grede said."It's world-class technology. That's the best way I can put it," he added. Grede said Bcause views Nasdaq's technology as an advantage in terms of what is currently available in crypto for institutional and professional traders.
Commodity Futures Trading Commission] approval for derivatives trading and for clearing, and those applications are in process with the CFTC, but we just feel its better strategically to get a toehold in spot trading that we can leverage into derivatives trading." 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. We won't have all 50 by the time we launch, but we'll probably have 25 or 30, and I think there's five or six where you don't need any kind of a license to do it, but [...] there is no federal regulatory scheme over spot trading of crypto today.
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