Markets Tech Firm to Launch Crypto Derivatives Exchange

LevelTradingField is launching a cryptocurrency derivatives exchange with the help of the ethereum blockchain.

Aug 6, 2018 at 9:00 p.m. UTC
Updated Sep 13, 2021 at 8:15 a.m. UTC

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.

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

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
CoinDesk Cardano Price Index (ADX)

CoinDesk - Unknown
2
CoinDesk - Unknown
CoinDesk Smart Contract Platform Select Index (SCPX)

CoinDesk - Unknown
3
CoinDesk - Unknown
First Mover Asia: KuCoin Plans to Bolster DeFi Activity on Its Blockchain After $150M Raise; Cryptos Gain

The crypto exchange will add technical features to support developers and build on KuCoin's public blockchain; bitcoin outperforms ether.

The crypto exchange will add technical features to support developers and build on KuCoin's public blockchain; bitcoin outperforms ether.

CoinDesk - Unknown
4
CoinDesk - Unknown
CFTC Charges 2 Men With Running a $44M Crypto Ponzi Scheme

Sam Ikkurty and Ravishankar Avadhanam are accused of using YouTube videos to dupe would-be clients into investing in various crypto funds.

Sam Ikkurty and Ravishankar Avadhanam are accused of using YouTube videos to dupe would-be clients into investing in various crypto funds.

CoinDesk - Unknown