DMG Blockchain and the Debut of Decentralized Financial Market Infrastructure
DMG Blockchain (TSXV:DMGI) has been onboarded and is now actively trading on the Bosonic Network, a decentralized alternative to traditional crypto markets.
Bosonic uses decentralized financial market infrastructure (dFMI) technology to help DMG and other companies exchange bitcoin for fiat currency at a lower cost than with traditional exchanges. DMG has also agreed to offer Bosonic’s dFMI technology to all Terra Pool members.
“We are excited to use the Bosonic Network for the operation of our business, particularly its integration with our Blockseer product line focused on Terra Pool. The Bosonic Network connects our custodian directly to institutional buyers without intermediaries and offers a unique, real-time clearing- and settlement infrastructure for digital asset trading DMG has tested the exchange with over two million dollars worth of bitcoin sold over the past few months and we are very pleased with the results, said Sheldon Bennet, DMG CEO.
Bosonic Enterprise Solutions is a white-label software-as-a-service (SaaS) application of the technology for use in other financial market infrastructure, banking or brokerage platforms for digital assets. The Bosonic network and enterprise solutions provide strong blockchain infrastructure that shapes digital asset markets by eliminating risk and maximizing capital efficiency for hedge funds, family offices, banks, brokers, asset managers and others.
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Bosonic’s entire deal involves dFMI and has since 2016. It now has offices in San Francisco, New York and London. The company supplies infrastructure that eliminates counterparty credit and settlement risk in digital asset markets. The Bosonic Network provides institutional clients with a solution that is liquidity and depository agnostic, enabling asset tokenization and security.
“We are delighted to welcome DMG Blockchain Solutions to the Bosonic network, further expanding our ecosystem of key industry participants. Giving institutional clients access to carbon-neutral mined bitcoin continues our strong focus on ESG and sustainability as we build out the network’s future capabilities, says Rosario Ingariola, Bosonic’s CEO.
DMG’s partnership with Bosonic provides a number of benefits, including:
- Cross-custodial trading and transaction settlement from the users’ own accounts.
- Bitcoin users never actually touch a traditional ‘exchange wallet’, ensuring greater security.
- The ability to set limit orders for both buy and sell transactions.
- Real-time monitoring of the bid-ask ratio from a collection of streams from top exchanges and market participants instead of going through bids from intermediaries. Useful for arbitration purposes.
- Instant settlement of buy and sell transactions and fast transfer of BTC to fiat.
- Self-service switchboard with reduced fees instead of a traditional OTC desk.
Decentralized markets and mining
The Bosonic deal is the latest in a series of moves that have pushed DMG ahead of its competitors. The biggest of these is the launch of Terra Pool.
Terra Pool is a cryptocurrency mining platform focused on clean energy and operated by DMG’s software company subsidiary, Blockseer. It’s there to ease the transition to clean energy and reduce the overall impact bitcoin mining has on the environment. Terra Pool aggregates the computing power of individual miners and distributes the rewards and transaction fees among the participants.
DMG has recently opened Terra Pool to other bitcoin mining companies.