Bakkt launch date set for December

Posted 23 October, 2018

The operator of New York Stock Exchange, Intercontinental Exchange (ICE), has announced the date of official launch of the Bakkt crypto trading platform.

The company made a statement Monday, October 22, that Bakkt exchange designed for larger institutional investors will come into operation on December 12 2018.
Initially, the platform will deal with physically-settled daily futures contracts for bitcoin.

According to the notice, digital coins to back the contracts will be kept in ICE's storage. The clearing operations will be conducted by ICE Clear US division.

"Each futures contract calls for delivery of one bitcoin held in the Bakkt Digital Asset Warehouse, and will trade in U.S. dollar terms," noted the company.

For reference, ICE expressed intentions to create a regulated global crypto ecosystem in early August.

Later, the company named the first products to be offered at the platform. Notably, the released document does not contain any information about GBP-BTC and EUR-BTC pairs that were mentioned earlier. Meanwhile, early this month it was reported that Bakkt's COO would be Adam White, the former Coinbase employee.

Bakkt is developed in cooperation with such giants as Microsoft, Starbucks and BCG.

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23 October, 2018 12:29

← Binance receives investments from Singapore state-run fund

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22 October, 2018 15:32

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Chinese internet authority drafts legal rules for blockchain companies
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