LONDON & SAN FRANCISCO & NEW YORK–(BUSINESS WIRE)–Bosonic, a decentralized Financial Market Infrastructure (dFMI) business, has announced that DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB: DMGGF) (FSE: 6AX) (“DMG”), a vertically integrated blockchain and cryptocurrency technology company, has been onboarded and is now actively trading on the Bosonic Network™. Using Bosonic’s dFMI technology, DMG now exchanges bitcoin for fiat currency at a lower cost and with lower risk compared to traditional exchanges. In addition, DMG is working with Bosonic to offer its dFMI technology to all Terra Pool members.
DMG Blockchain Solutions, the developer of Terra Pool (www.terrapool.io), brings together bitcoin miners to create carbon neutral bitcoin. DMG recently opened the Terra Pool to general Bitcoin mining and announced the development of a marketplace for funds to access the green bitcoin. The partnership with Bosonic provides key features and benefits, including:
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Cross custody trading and settlement of transactions from the users’ own custody accounts
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Greater security for users’ bitcoins as they never touch a traditional “exchange wallet”
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Ability to set limit orders for buy and sell transactions
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Real-time monitoring of the bid-ask spread from a tradable aggregation of top exchange and market maker streaming liquidity instead of intermediaries quoting and requoting prices
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Instant settlement for every buy/sell transaction and extremely fast transfer of BTC/fiat
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Self-service switchboard provides reduced fees compared to traditional OTC desks
DMG Blockchain Solutions CEO Sheldon Bennett said: “We are excited to use the Bosonic Network for the operation of our business, especially the integration of this with our Blockseer product line which focuses on the 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.” He added, “DMG has tested the exchange with over two million dollars worth of bitcoin sold in the last few months and we are very pleased with the results.”
Bosonic CEO Rosario Ingargiola commented: “We are pleased to welcome DMG Blockchain Solutions to the Bosonic network, further expanding our ecosystem of key industry participants.” He added: “Giving institutional customers access to carbon-neutral mined bitcoin continues our strong focus on ESG and sustainability as we build out the network’s future capabilities.”
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About Bosonic
Founded in 2016, Bosonic is a leading “dFMI” decentralized financial market infrastructure company with offices in San Francisco, New York and London, providing best-in-class infrastructure that eliminates counterparty credit and settlement risk in digital asset markets.
The Bosonic Network™ provides institutional clients with a patented solution that is liquidity and repository agnostic, enables tokenization of assets and collateral, provides liquidity aggregation and DMA to the best exchanges and market makers, and at its core runs real-time payment vs. payment (PvP) nuclear execution and settlement, with cross-margining, cross-deposit net settlement and payments.
Bosonic Enterprise Solutions is a full front-to-back white-label SaaS deployment of the same technology for use in other regulated FMI, Bank or Broker digital asset platforms. Bosonic Network and Bosonic Enterprise Solutions deliver best-in-class blockchain infrastructure that shapes the future of Digital Asset markets by eliminating risk and maximizing capital efficiency for hedge funds, family offices, banks, brokers, asset managers and other market participants.
About Terra Pool
Terra Pool is a cryptocurrency mining platform operated by DMG’s Blockseer software company. Terra Pool is the world’s first Bitcoin mining pool with a focus on clean energy. The purpose of this initiative is to accelerate the transition from conventional power to clean energy and reduce the impact of Bitcoin mining on the environment. Terra Pool aggregates the computing power of individual miners and then divides the received rewards and transaction fees proportionally between them, so that miners are rewarded more consistently.
About DMG Blockchain Solutions Inc.
DMG is an environmentally friendly vertically integrated blockchain and cryptocurrency company that manages, operates and develops end-to-end digital solutions to monetize the blockchain ecosystem. DMG’s sustainable businesses are segmented into two business lines under the Core and Core+ strategies and united through DMG’s vertical integration.
Future changes in the Bitcoin network’s mining difficulty or Bitcoin hash rate could materially affect the future performance of DMG’s production of Bitcoin, and future operating results could also be materially affected by the price of Bitcoin and an increase in hash rate mining problems.
For more information about DMG Blockchain Solutions visit: www.dmgblockchain.com
