ICE to Launch Crypto Trading Platform Bakkt in December

ICE to Launch Crypto Trading Platform Bakkt in December

Cryptocurrency News
October 23, 2018 by Sandra Onyeiwu
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Intercontinental Exchange (ICE) the parent company of the New York Stock Exchange (NYSE), has announced that it is going to list cryptocurrency trading platform Bakkt Bitcoin (USD) Daily Futures Contract for trading. Bakkt is a trading platform for storing, trading and spending digital assets. Bakkt has been awaiting their launch date, which has officially been announced as December
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Intercontinental Exchange (ICE) the parent company of the New York Stock Exchange (NYSE), has announced that it is going to list cryptocurrency trading platform Bakkt Bitcoin (USD) Daily Futures Contract for trading.

Bakkt is a trading platform for storing, trading and spending digital assets. Bakkt has been awaiting their launch date, which has officially been announced as December 12th, and it is described by ICE as “an open and regulated, global ecosystem for digital assets.”

ICE is currently working with the Commodity Futures Trading Commission (CFTC) over the regulatory aspects. “Each futures contract calls for delivery of one bitcoin held in the Bakkt Digital Asset Warehouse and will trade in U.S. dollars and others.

Jeffrey C. Sprecher, the founder, chairman, and CEO of ICE explained,

“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.”

Bakkt’s first contracts will be physically delivered Bitcoin (BTC) futures contracts versus fiat currencies, including USD, GBP, and EUR. Buying one USD/BTC futures contract will result in daily delivery of one Bitcoin into a customer’s account. And one daily contract will be listed for trading each Exchange Business Day.

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