Bakkt announcement: deposits to be accepted since September

Posted 29 August, 2019

The Bakkt cryptocurrency platform from Intercontinental Exchange Corporation (ICE) has announced the date when customers awaiting the launch of trading in physically settled bitcoin futures will be able to make deposits.

On the Twitter account, the Bitcoin futures provider stated the platform would start offering a secure repository for bitcoins on September 23 as a part of preparations for the launch of the daily and monthly futures contracts.

"On Sept 6, our Warehouse will begin offering secure storage of customer bitcoin to prepare for the launch of Bakkt Bitcoin Daily & Monthly Futures when they launch on Sept 23 These contracts will enable physical delivery of bitcoin with end-to-end regulated markets and custody"– indicated on twitter.

Bakkt announced that earlier this month it had received the latest necessary regulatory approvals, more than a year after it expressed intentions to offer customers an adjustable physical Bitcoin futures product.

Although the launch of Bakkt has been rescheduled several times due to delays from regulators, the platform now plans to provie customers with an access to the first futures contracts with physical calculations in the USA at the end of next month.

Unlike cash-settled futures contracts, clients receive actual bitcoins upon expiration of the contract, and not their equivalent in fiat currency.

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