The Bitcoin (BTC) futures platform Bakkt developed by the New York Stock Exchange's parent company Intercontinental Exchange (ICE) is still under development and is said to be launched in the third quarter.
According to a report on July 26, an anonymous person close to the company disclosed this information to the blockchain and cryptocurrency news publishing company the Block.
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However, The Block said it has received a copy of the slide, indicating that Bakkt still needs New York Financial Services (NYDFS) to approve its warehousing service, the company's proposed refrigeration solution for secure storage of private keys. According to the report, obtaining approval from NYDFS will allow Bakkt to obtain a license to operate as a limited trust company.
As of press time, Bakkt's operator, ICE has not responded to the request for comment.
Bakkt's roadmap: forecasting and delay
As previously reported, Fundstrat's managing director and quantitative strategist Sam Doctor also posted a Twitter post on July 19th, showing that Bakkt is expected to be launched in the third quarter. The Washington Post pointed out that the company believes that there is a lot of hype and is willing to adopt it immediately after the launch of Bakkt.
“On the first day of Bakkt's listing, it seems that a significant number of investors are ready to join, and the sales team is gaining more and more attractive among brokers, market makers, proprietary trading departments and liquidity providers. ”
As previously reported, Bakkt began testing its platform on July 22 as expected.
Bakkt also delayed the launch several times. According to reports, the Commodity Futures Trading Commission (CFTC) conducted an investigation into Bakkt on regulatory compliance and potential market impact, resulting in repeated delays in the launch of the platform.
As one of the most watched platforms in 2019, many analysts believe that Bakkt will bring a bitcoin super bull market. Because Bakkt is not only a cryptocurrency exchange created by ICE, the parent company of the New York Stock Exchange. It also received FinTech, including Boston Consulting Group, CMT Digital, Eagle Seven, Galaxy Digital, Goldfinch Partners, Alan Howard, Horizons Ventures, Intercontinental Exchange, Microsoft Ventures, M12, Pantera Capital, Payu, Naspers, and Protocol Ventures. The first round of financing of $182 million was within 12 institutions.