ICE Confirmed Information On The Launch Of Bakkt Crypto Platform In Mid-December
New York Stock Exchange Operator’s Cryptocurrency Trading Platform To Be Officially Launched On December 12.
The Intercontinental Exchange announced this Monday that Bakkt will begin offering physically delivered bitcoin futures contracts in December, the first product of the new platform..
The bitcoins that will be used to secure the contracts will reside in ICE’s digital asset repository, the notice says. Clearing of contracts will be carried out through ICE Clear US – another division of the exchange.
“Each futures contract paid in US dollars provides for the delivery of one bitcoin in Bakkt’s digital asset storage,” the company explains..
Bakkt was announced in early August when ICE announced its intention to develop “an open and regulated global digital asset ecosystem.”.
The exchange later confirmed that the first instrument of its platform would be one-day bitcoin futures with physical delivery of the asset, which distinguishes them from bitcoin futures, launched in December last year, which are settled in fiat..
It was previously speculated that the Bakkt launch could take place in November after approval by the US Commodity Futures Trading Commission (CFTC). In its today’s announcement, the company does not specify what the choice of December 12 as the platform’s opening date is connected with..
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