The beta-testing of Bitcoin futures contract for ICE-backed cryptoasset trading platform Bakkt was carried out successfully, as per the press release from Mr. Adam White, the COO of Bakkt. The platform has industriously launched customer acceptance testing for its cryptocurrency futures traded and cleared at Intercontinental Exchange Futures US and ICE Clear US respectively.
Bakkt, a platform designed to support cryptocurrencies and Bitcoin (BTC) futures, is now getting ready to roll out soon, according to Jeffrey Craig Sprecher, the head of the Intercontinental Exchange (ICE), the parent company of Bakkt, however, he never revealed or set a company timeline.
Bakkt – owned by Intercontinental Exchange (ICE) has netted a $740 million valuation after raising more than $182 million in a Series A funding round in 2018, according to The Block, the crypto news outlet. The company sold over ¼ of its shares to investors to hit the current valuation.
From the new report, it seems that there is substantial equity held by Starbucks – the biggest coffee and snack provider globally – in the forthcoming cryptocurrency platform Bakkt. The company has earned its shares as part of a jointly constructive agreement. Starbucks’ partnership with Bakkt was initially revealed in August 2018. It is aimed at enabling bitcoin payments.
Fresh from accomplishing its maiden funding round, Bakkt declared its first acquisition on January 14. The daughter firm of the Intercontinental Exchange (ICE) is also considering the feasibility of expanding beyond the U.S. market.
Bakkt, the Intercontinental Exchange’s (ICE) forthcoming cryptoasset trading platform, has embossed around $182.5 million from several investors. The money will be used in creating and developing the institutional-grade regulated cryptoasset exchange, warehousing and clearing services for storage and physical delivery. The firm now hopes to give an updated timeline on rolling out Bitcoin (BTC) day-to-day futures contracts early this year.
The Intercontinental Exchange's (ICE) Bakkt crypto platform could obtain approval to roll out its physically-delivered Bitcoin futures commodity from U.S regulators in the coming week, an unidentified source told The Block, a technology news outlet on October 25, 2018.
In a key twitter proclamation, the team at the highly anticipated Wall Street company of Bakkt acquainted the Cryptocurrency and investing group of its initial physically fixed Bitcoin (BTC) futures contracts.