Cryptocurrency ecosystem BCause engages ASGARD as exclusive Capital Markets Advisor


Cryptocurrency ecosystem BCause engages ASGARD as exclusive Capital Markets Advisor

Cryptocurrency ecosystem BCause LLC today announced that the firm has engaged ASGARD Partners & Co. as its exclusive Capital Markets Advisor for a Series B capital raise of $25 million in equity. After launching its cryptocurrency mining facility in February, BCause is in the process of establishing a spot market and, pending regulatory approval, a derivatives exchange and clearing house.

Since its Series A funding round closed in October, BCause has been building its staff and infrastructure in Virginia Beach and Chicago to support its growth plan as a vertically integrated cryptocurrency organization designed to meet a full range of cryptocurrency needs, from mining, to spot trading, to listed derivatives and clearing.

The firm intends to launch its spot market this summer. BCause has submitted a filing with the U.S. Commodity Futures Trading Commission to become a designated contract market (DCM) and is finalizing a submission to become a derivatives clearing organization (DCO). The Board and staff include a broad range of experts in cryptocurrency, cybersecurity, infrastructure, technology, finance, derivatives and clearing.

BCause CEO Fred Grede said:

We’re extremely pleased with our progress to date and the talented team we’ve been assembling. Demand for our mining services has been beyond expectations. This Series B round will help bring us to the next level in executing on our ambitious plans. It’s a pleasure to partner with ASGARD, which already has a deep understanding of, and enthusiasm for, our business model.

It’s clear that interest in the cryptoverse from both investors and participants continues to grow. BCause’s one-stop institutional platform for mining, trading, hedging and clearing cryptocurrencies, is very well positioned to take advantage of this growth. We look forward to a continued partnership with the Company to help it develop this unique and compelling market proposition,” added Andi Çomo, Managing Director at ASGARD Partners.

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Cryptocurrency ecosystem BCause engages ASGARD as exclusive Capital Markets Advisor

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