First funding round completed at $182.5 million, Bakkt reported

Posted 02 January, 2019

ICE's trading platform – Bakkt – has reportedly completed the first funding round with the investments reaching $182.5 million. 

According to the company press release, the platform got financial backing from 12 companies, including "Boston Consulting Group, CMT Digital, Eagle Seven, Galaxy Digital, Goldfinch Partners, Alan Howard, Horizons Ventures, Intercontinental Exchange, Microsoft’s venture capital arm, M12, Pantera Capital, PayU, the fintech arm of Naspers, and Protocol Ventures."

The company is targeting the first regulated trading solution for the institutional investors powered by the physically delivered assets. At the same time, the project representatives failed to name any exact schedule when the official launch may happen, saying that everything will depend on the regulator's approvals.

The company representative said in the blog post:

"Our team has been working closely with the Commodity Futures Trading Commission for the better part of 2018...We have filed our applications and the timing for approval is now based on the regulatory review process."

Notably, it has been confirmed by ICE that Bakkt would not be inaugurated on January 24 due to ongoing application consideration by Commodity Futures Trading Commission. The new schedule is expected to be unveiled in the near term.

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02 January, 2019 15:49

← Japan-based DMM shuts down crypto mining business

Japanese e-commerce holding – DMM.com – announced its escape from the crypto mining business citing slackening revenue in this segment. The main reason behind this decision is said to be low financial performance of the segment. Along with the mining business shutdown, DMM is said to start getting rid of its crypto mining facilities. Sales will be made in the H1 2019.

Japan-based DMM shuts down crypto mining business

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02 January, 2019 11:38

Japanese safe-haven currency getting stronger →

At the Asian session, the Japanese currency shows a rise making use of slackening stock markets on Monday. The US Dollar index stands at some 95.708. The safe haven, the Japanese yen, has improved positions against the US dollar at the Asian session. Specifically, the US dollar-to-yen exchange rate dipped to some 109.35 during the Monday session partly on negative Asian indices.

Japanese safe-haven currency getting stronger
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