Yahoo Finance Markets Tech Firm to Launch Crypto Derivatives Exchange
Interactive financial markets technology platform LevelTradingField is launching a cryptocurrency derivatives exchange using the ethereum blockchain.
Dubbed CADE, the exchange is set to go live this September. It will list ERC-20 tokens which track bitcoin, ether, litecoin, bitcoin cash, ripple and monero, with more to be considered on a rolling basis, according to a press release published Friday.
These tokens will allow traders to reap the economic benefits of investment in crypto without actually owning any of the digital goods.
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All derivative tokens on CADE are to be priced in LUSD, a stablecoin pegged to the U.S. dollar and guaranteed for by the company.
The press release notes that this type exchange could be used in a variety of beneficial ways, not just for cryptocurrency traders, also but miners and long-term investors.
On the other hand, the release also notes that CADE will only accept participants who have successfully passed through a "robust compliance framework" in order to ensure that know-your-customer and anti-money-laundering standards are upheld.
Last year the company launched a Bitcoin Market Predictor attracting participants to bet on the future price movements of bitcoin in a game of skill akin to fantasy sports betting. More recently, LevelTradingField also announced a new partnership with global connectivity provider, NetXpress, to feature a cryptocurrency feed for users consolidating data from major cryptocurrency exchanges.
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Exchange display image via Shutterstock
