New York, NY, July 02, 2017 --(PR.com
)-- BCause LLC announced today that it has engaged Castle Placement as its exclusive placement agent to raise as much as $25 million in equity to establish the first US-regulated Designated Contracts Market (exchange) for cryptocurrency derivatives. BCause expects to provide a solution largely absent in the cryptocurrency ecosystem. The initial launch will allow the commercial, professional, institutional, and retail participants to trade futures, and subsequently options, focused on Bitcoin. Shortly after launch, BCause’s exchange participants will be able to trade derivatives contracts denominated in multiple cryptocurrencies, traditional world fiat currencies, and other diversified products. The longer-term plan is to expand the trading platform to include other crypto and fiat currencies as well as non-currency products.
Fred Grede, CEO of BCause said, “We are really excited to partner with Castle Placement as our agent for this funding round. Their platform sets them apart from the many other investment banks we considered using. These funds will allow BCause to bring a piece of the missing puzzle to the Crypto-Currency eco-system. Today, if you hold Bitcoin or any Alt-coin, and want to hedge the risk of holding that currency, your options, pun intended, are virtually non-existent. With BCause, you will be able to buy or sell a variety of contract types that would allow you to mitigate that risk or profit from price fluctuations.”
John Haltmaier, Managing Director of Castle Placement said, “Being entrusted by the BCause team with this placement is an endorsement of the Castle approach, which is disruptive and innovative when compared to the traditional investment bank. We are completely committed to the success of our clients and are excited about the potential for the Crypto-Currency space represented by BCause.”
Founded in 2012, with presence in Chicago and Virginia Beach, BCause is led by Fred Grede, former CEO of the Hong Kong Futures Exchange. Members of the management team have extensive experience creating new exchanges, having successfully started four previous exchanges including the Chicago Climate Exchange. Other members of the team have extensive experience building large, complex IT Systems and IT Security systems.
Founded in 2009, Castle Placement raises equity and debt private capital for start-up, early-stage and middle market companies across a broad spectrum of industries. Its robust technology platform connects issuers with global institutional investors. The Castle Placement platform has over 27,000 private equity, venture capital and strategic investors, family offices, pension funds, foundations, endowments, sovereign wealth funds, hedge funds and lenders.