Markets Tech Firm to Launch Crypto Derivatives Exchange
These tokens will allow traders to reap the economic benefits of investment in crypto without actually owning any of the digital goods.
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.
Exchange display image via Shutterstock