<article><a href="https://www.dealstreetasia.com/?s=China+Health+Checkmate" target="_blank" rel="noopener">China Health Checkmate</a> (CHC) has joined a Series B funding round for Virginia-based cryptocurrency startup <a href="https://www.dealstreetasia.com/?s=Bcause+LLC" target="_blank" rel="noopener">Bcause LLC</a> as an initial investor, according to an announcement.</article>

<a href="https://www.dealstreetasia.com/?s=China+Health+Checkmate" target="_blank" rel="noopener">China Health Checkmate</a> (CHC) has joined a Series B funding round for Virginia-based cryptocurrency startup <a href="https://www.dealstreetasia.com/?s=Bcause+LLC" target="_blank" rel="noopener">Bcause LLC</a> as an initial investor, according to an announcement.
The funding will enable Bcause to open a spot cryptocurrency exchange in the near term and to launch exchange-related cryptocurrency initiatives to be co-located in Asia, its statement said.
CHC is a joint venture between Checkmate Capital, an investment group managing family office assets and Asia-Pacific institutional funds, and unnamed large financial services and healthcare partners in Asia.
The Chinese firm said its investment in Bcause will help establish new cryptocurrency exchanges and Asia-based, asset-backed payment-related products.
&#8220;The global experience of the Bcause management team, particularly with building multiple exchanges in Asia, is critical in executing on our strategic plan to create viable cryptocurrency exchanges in Asia,&#8221; said Benjamin Lye, vice president and head of digital assets at Checkmate Capital.
Bcause is building a full-stack cryptocurrency ecosystem, including mining facilities, a spot market, regulated derivatives exchange, regulated clearing house and custody operations. It has filed with the US Commodity Futures Trading Commission to become a designated contract market (DCM) and to establish a derivatives clearing organization (DCO).
&#8220;This commitment represents our second strategic investment from the Asian region and will further our distribution into Asia. We&#8217;re very pleased to work with CHC and our partners in playing a unique role in the evolving crypto marketplace and furthering the development of cryptocurrency trading in the region,&#8221; said Fred Grede, CEO of Bcause.
In 2017, Japan&#8217;s SBI Holdings backed Bcause as a lead investor in its $5-million Series A round.
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Bcause will use the funding to open its spot cryptocurrency exchange in the near term and to launch exchange-related cryptocurrency initiatives co-located in Asia.

China Health Checkmate backs crypto startup Bcause’s Series B round

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China Health Checkmate backs crypto startup Bcause’s Series B round

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