The upcoming cryptocurrency trading platform of Intercontinental Exchange (ICE), Bakkt has recently confirmed that its Bitcoin future contract will officially start working on December 12 this year. Backed by world-famous brands like Starbucks, Microsoft and Galaxy Digital, the Bakkt Daily Bitcoin Future Contract will allow the investors to perform trading “a physically settled a daily future contract for Bitcoin.”
According to the notice, the future contracts of Bakkt will be cleared through another subsidiary of the exchange, ICE Clear US that owns the New York Stock Exchange. During the starting of 2018, the creation of Bakkt was announced when ICE declared its intention to develop “an open and regulated, global ecosystem for digital assets.”
Apart from offering Bitcoin futures, Bakkt will offer solutions for buying, selling, storing and spending digital assets. Any user purchasing Bitcoin contract will result in daily delivery of one Bitcoin into a customer’s account. According to the chief executive officer of Bakkt, Kelly Loeffler, the upcoming foundation is created upon “the time-tested, regulated futures markets that have advanced markets ranging from coffee to gold for hundreds of years.”
“We are taking a transparent approach to engage across the industry as we begin testing and onboarding in November, and trading and warehousing in December,” Loeffler said, as reported by The Daily Hodl.
According to a notice released by ICE Futures US, each future contract calls for delivery of one Bitcoin held in the Bakkt Digital Asset Warehouse and will trade in the US dollar items. The notice further gives the full specification in details.
The much-awaited cryptocurrency trading platform was initially expected to be launched in November after getting the approval from CFTC. Although the release of Bakkt was postponed till December 12 (its original launching date), no reason has been provided related to the delay of one month.
The post Cryptocurrency Trading Platform Bakkt Is Slated To Commence Working on December 12 appeared first on OWLT Market.
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