A press release dated 4 February reported that San Francisco-based blockchain capital markets infrastructure company, OTCXN, has added to its network full-stack cryptocurrency ecosystem ‘BCause’.
OTCXN signs BCause LLC @IntelAlley @marketsmedia @bcausellc @SeanRistau BCause has one of the largest institutional mining facilities in the US, with plans to build a spot exchange, regulated derivatives exchange, regulated clearing house and custody operations.
— OTCXN, Inc. (@OTCXN) February 5, 2019
BCause began operations in 2018, initially with its cryptocurrency mining facility in Virginia Beach, Virginia. The company has operations in Chicago and is headquartered in Virginia Beach. BCause is poised to become a full-fledged shop for all aspects of the cryptocurrency ecosystem.
The report highlighted the caliber of BCause by stating that it includes one of the largest institutional mining facilities in the US. There is an impending vision to add a regulated derivatives exchange, spot exchange, regulated clearinghouse, and custody operations.
Speaking on the occasion, Rosario M. Ingargiola, CEO and Founder of OTCXN cited:
“We are pleased to have BCause join the OTCXN network for access to aggregated institutional liquidity that is actionable via a single account at a custodian on our network with no trading counterparty or settlement risk.”
Rosario further went on to convey how BCause would be benefited from this deal. BCause which typically receives cryptocurrencies as payments for usage of their mining facilities would look forward to competitive prices and safest cum fastest possible settlement. BCause would also be helped through a liquidity flow induced by OTCXN.
Frederick J. Grede, CEO of BCause LLC, acknowledged this take emphasizing the absolute need to convert cryptocurrencies to fiat currencies while minimizing counterparty risk. OTCXN provides BCause seamless avenues for this purpose. BCause deals with a number of institutional customers who use the mode of cryptocurrencies for their payment.
From what we have gathered, at least four other cryptocurrency-related companies have formed important relationships with OTCXN over the period of a month. These deals have encompassed important portfolios such as liquidity providers.
The report concluded with OTCXN stating that they have soft launched their high-performance matching engine, LiquiMatch, as ‘both a Dark Pool and Lit Central Limit Order Book hybrid ECN’ for cryptocurrencies. Clients on the network can trade on liquid funds across all OTCXN trading platforms.
LiquiMatch also aggregates market maker’s streaming executable quotes. In simple jargon, trades on LiquiMatch will not be made public unless customers choose to make them so.
There is absolutely no doubt that both OTCXN and BCause have taken the right step in order to scale plus availing productivity gain. We will definitely see more instances where firms would seek the network power of another well-established provider.