In what could be the indicator for the next bull run, cryptocurrency exchange Bakkt announced the launch date for negotiating Bitcoin future contracts, scheduled for December 12th 2018.
Bakkt to be launched on December 12
Tier 1 global investment banks are negotiating with Bakkt to use their familiar foreign exchange architecture. Others are watching the launch very closely.
Bakkt is designed to enable consumers and institutions to buy, sell, store and spend digital assets. Created for reliability, efficiency and digital asset trading, Bakkt seeks to develop open technology to connect the existing market and market infrastructure to the blockchain.
As initial component of the Bakkt offer, the Intercontinental Exchange futures exchange plans to launch a 1-day Bitcoin contract physically delivered together with the physical deposit on December 12, 2018. This, after receiving the review and approval of the CFTC , the American regulatory agency. The regulated locations will establish new protocols to manage specific security and settlement requirements of digital coins
Bakkt partnership with Starbucks
As the company and the stock exchange grow rapidly, their partners will become increasingly prominent. Bakkt partnered with Starbucks to process payments via Bitcoin in the coffee company’s mobile application. Starbucks is the largest mobile payment application ecosystem in the United States. With 23.4 million users, it tis bigger than Apple Pay, Google Pay and Samsung Pay
According to Jeffrey C. Sprecher, Founder, President and CEO of Intercontinental Exchange:
“By bringing connected and regulated infrastructure along 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,”
Physically deposited Bitcoin futures were originally planned for November. Having recently received prominent support from Coinbase’s Adam White, the stock exchange has now announced in a press release the final date for the launch of futures contracts.
Bakkt starts less than two months from now. The digital asset space is about to change once again.