The New York-based Intercontinental Exchange (ICE) has reportedly announced intentions to set up new company aimed at creating an open regulated ecosystem of digital assets, using the cloud service of Microsoft.
The project called Bakkt has started dealing with such giants as Microsoft, BCG, Starbucks and other major companies, striving to develop and launch the platform that will provide effective service for buying, selling and spending digital assets. The potential users of the new platform will be retail customers and institutions
According to the company statement, Bakkt will offer trading and conversation of bitcoin and fiats at first. The new ecosystem is said to cover federally regulated markets and warehousing.
“In bringing regulated, connected infrastructure together with institutional and consumer applications for digital assets, we aim to build confidence in the asset class on a global scale, consistent with our track record of bringing transparency and trust to previously unregulated markets,” as noted Jeffrey C. Sprecher, Founder, Chairman and CEO of Intercontinental Exchange.
In the framework of the new project, it is planned to launch 1-day physically delivered bitcoin contracts and physical keeping this November. These contracts are subject to CFTC study and approval.
“Bakkt is designed to serve as a scalable on-ramp for institutional, merchant and consumer participation in digital assets by promoting greater efficiency, security and utility,” commented Bakkt's CEO Kelly Loeffler.