2019 is supposed to be THE year, when everything will fall into place, as far as crypto adoption is concerned. The Intercontinental Exchange’s (ICE) pending bitcoin platform Bakkt, announced that it would be launching its platform for bitcoin futures on July 22 this year.
Recently, Jeff Sprecher, the Chairman and CEO of Intercontinental Exchange, in his fourth quarter earnings conference call, termed ICE’s investment in Bakkt “a bit of a moonshot bet.”. In a blogpost, the platform said, “Still, bitcoin price discovery, like a moonshot, requires diligent testing before launch. On July 22, two days after Apollo 11’s 50th anniversary, Bakkt will initiate user acceptance testing for its bitcoin futures listed and traded at ICE Futures U.S. and cleared at ICE Clear US.”
Last month, Bakkt had announced that it was all set to launch the first bitcoin futures contracts, in collaboration with the Intercontinental Exchange (ICE) Futures U.S. and ICE Clear US.
The Chief Executive Officer (CEO) of Bakkt, Kelly Loeffler said that, not just ICE, the company has also been closely working with the U.S. Commodity Futures Trading Commission (CFTC) in launching the bitcoin futures. Loeffler said, “Customers active in crypto markets — and many still waiting to get in — have had a voice in shaping the design of the initial product offering. As detailed in the ICE Futures U.S. filing with the CFTC today, bitcoin futures will be listed on a federally regulated futures exchange in the coming months.”
The platform, stated in its post, “That’s our mission — to support the development of trusted infrastructure for securely transacting in the new market for digital assets. In advance of the start of Bakkt’s testing regimen, we wanted to share what we see as some of the benefits we’re bringing to help grow this market.”
To that extent, Bakkt put together a list of ‘known market risks’ and how it plans to solve them, in the image above.
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