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NYSE Operator’s Bakkt Launches its Digital Assets Platform in January 2019

Redwan Eid | Nov. 21, 2018
NYSE Operator’s Bakkt Launches its Digital Assets Platform in January 2019

The delay of their launch was said to be for improvement purposes and to make sure that all traders can start with them from “day 1”.

Their new features are said to be announced in the next few weeks, while hinting that their start will also witness search for expansion opportunities.  

November 21, 2018 AtoZ Markets - The Bakkt digital assets platform has announced, that its launch date might be next Jan. 24, 2019.

Bakkt was founded last August, by The Intercontinental Exchange (ICE), an operator of 23 prominent global exchanges including the New York Stock Exchange (NYSE),

In a Medium post, the platform referred that they are working on the necessary arrangements for their operation date, hinting that the platform is already under demand.

Given the volume of interest in Bakkt and work required to get all of the pieces in place, we will now be targeting January 24, 2019 for our launch to ensure that our participants are ready to trade on Day 1”, said Kelly Loeffler, CEO of Bakkt.

Physically-settled bitcoin futures might not be all the company offers

While the company is said to launch “physically-settled bitcoin futures”, Loeffler stated that the platform is likely to offer more than that, while they will be looking over their initial period of starting the business for opportunities to expand.

The post referred to that the platform is working at the moment coherently with the U.S. Commodity Futures Trading Commission (CFTC), as Bakkt™ Bitcoin Daily Futures contract is being reviewed, along with the Bakkt Warehouse.

“These products represent a critical shift in the evolution of crypto markets toward more accessible, useful, and regulated instruments”, added Bakkt in its post.

Bakkt confirmed in the post that they have covered insuring bitcoin “in cold storage”, while they are currently working on securing what it called “the warm wallet within the Bakkt Warehouse architecture,”, indicating that the next few weeks will witness announcing the “new features”, as per its description.

Last October, ICE had announced that they were preparing to list Bakkt Bitcoin (USD) Daily Futures Contracts for trading on Dec. 12, 2018, clearing and physically settling the product with by ICE Clear U.S., Inc., amid unconfirmed rumours that the U.S regulators might approve Bakkt’s physically delivered futures product next November.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.