Boulder, Colorado-based Mimetic Markets this week launched a turnkey bitcoin exchange service. The new service allows exchange operators to immediately create a scalable bitcoin exchange, serving cash, futures, and prediction markets.
“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 company’s 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.
Founded in early 2014 by a team of Wall Street and Internet veterans, Mimetic is seeking to fill the void in exchange infrastructure as a service for bitcoin exchanges.