Mimetic Markets Launches Innovative Turnkey Bitcoin Exchange Service
New service allows exchange operators to immediately create a robust, scalable bitcoin exchange, serving cash, futures, and prediction markets.
BOULDER, Colo. and NEW YORK, Oct. 20, 2014 /PRNewswire/ -- Today, Mimetic Markets, Inc. (https://m2.io/) announced the launch of its turnkey bitcoin exchange service, marking the beginning of a proliferation of bitcoin exchanges worldwide. Previously if a firm wished to create a bitcoin exchange, it would have to develop software independently or contract with an existing firm to integrate their exchange software to the local environment. Now, if a firm wishes to launch a bitcoin cash, prediction market, or futures exchange, it can be launched immediately, on-demand.
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In early 2014, a team of digital payments and financial markets veterans noted that the bitcoin market in emerging and frontier markets was not supported by professional, Wall Street-class exchange infrastructure. They combined their trading experience at Goldman Sachs with decades of experience in the digital currency business and formed Mimetic Markets, Inc.
"If you'd like to expose your local market to bitcoin and launch a bitcoin exchange, you no longer have to hire a platform provider and spend months working on a custom integration for your local market," said Sameer Parekh Brenn, CEO of Mimetic Markets. "Now you can have your exchange up and running within minutes, using our Sputnik Exchange Engine platform."
Firms can use the Sputnik Exchange Engine to build exchanges supporting cash, prediction, and futures markets. Cash markets are those in which end-users simply swap bitcoin for another currency on the exchange. Prediction markets allow market participants to trade contracts which price based on the market's view of the probability of certain events happening or not. Futures markets allow market participants to trade contracts to buy or sell other financial contracts at a specified time in the future.
About Mimetic Markets, Inc.
Mimetic Markets is the company developing the most robust and scalable exchange infrastructure for the crypto-currency revolution. Founded in early 2014 by a team of Wall Street and Internet veterans, Mimetic has developed the Sputnik Exchange Engine, a robust platform for trading cash, futures, and prediction contracts.
About Bitcoin
Bitcoin is a distributed digital currency system, which allows people to transfer value outside the traditional banking system. Bitcoin has experienced exponential growth since it's inception in 2009, with transaction volume exceeding USD 50MM per day on a regular basis.
Contact:
Sameer Parekh Brenn
303-569-4439
SOURCE Mimetic Markets, Inc.
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