LONDON, SAN FRANCISCO, NEW YORK – OCTOBER 3, 2022 – 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 is now exchanging its bitcoin to fiat currency at a lower cost and with lower risk versus 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), is bringing together bitcoin miners to create carbon-neutral bitcoin. DMG recently opened Terra Pool to the general Bitcoin mining public and announced the development of a marketplace of funds to access its green bitcoin. The partnership with Bosonic provides key capabilities and benefits including:
- Cross-custodian trading and settlement of transactions from users’ own custodial accounts
- Greater security of users’ bitcoin as they never touch a traditional ‘exchange wallet’
- Ability to set limit orders for buy and sell transactions
- 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 re-quoting pricing
- Instantaneous settlement for each buy/sell transaction and extremely fast transfer of BTC/fiat
- Self-service exchange delivering reduced fees versus traditional OTC desks
DMG Blockchain Solutions CEO Sheldon Bennett said: “We are excited about utilizing the Bosonic Network for the operation of our business, particularly the integration of this with our Blockseer product line which focuses on Terra Pool. The Bosonic Network connects our custodian directly to institutional buyers with no 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 of bitcoin sold over the past few months, and we are very happy with the results.”
Bosonic CEO Rosario Ingargiola commented: “We are delighted to welcome DMG Blockchain Solutions to the Bosonic Network, further expanding our ecosystem of key industry participants.” He added: “Providing institutional clients with access to carbon-neutral mined bitcoin continues our strong focus on ESG and sustainability as we build out the network’s future capabilities.”
Founded in 2016, Bosonic is a leading decentralized financial market infrastructure “dFMI” 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 custodian agnostic, enables tokenization of assets and collateral, provides liquidity aggregation and DMA to the best Exchanges and Market-Makers, and at the core, runs real-time payment vs payment (PvP) atomic execution and settlement, with cross-margining, cross-custodian 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. The Bosonic Network and Bosonic Enterprise Solutions deliver best-in-class blockchain infrastructure that’s shaping 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 focused on clean energy. The purpose of this initiative is to accelerate the shift 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 shares the received rewards and transaction fees proportionally among 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 unified through DMG’s vertical integration.
Future changes in the Bitcoin network-wide mining difficulty rate or Bitcoin hashrate may 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 hashrate mining difficulty.