finally come! The Bitcoin futures contract of the Bakkt exchange of the parent company of the NYSE will open the test on July 22.

On June 13, Bakkt COO Adam White, a crypto-equity trading platform based on the NYSE's parent company Intercontinental Exchange (ICE), posted a blog on Medium, saying that the long-awaited Bakkt bitcoin futures product will begin on July 22. test.

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White said in his blog today.

"On July 22, two days after the "Apollo 50th Anniversary", Bakkt will launch a user acceptance test for Bitcoin futures, which will be traded on ICE Futures US and at ICE Clear. Settlement on US."

For the significance of the official launch of this bitcoin futures product, White said

“This is not a small step. This release will bring a new standard to the cryptocurrency market. Compared with other markets, due to market infrastructure and regulatory certainty, the organization’s participation in the cryptocurrency industry is still limited. This has led to a trading volume, liquidity and price transparency in the industry that is lower than the more mature markets such as the Brent crude oil futures contract. Brent crude oil futures contracts have earned global trust in setting global crude oil prices."

Bakkt's physical delivery of bitcoin futures products was originally planned to be put into use by the end of 2018, but was blocked due to regulatory obstacles. However, White said that Bakkt's solution addresses the market's pain points in other areas of the emerging cryptocurrency market.

For example, the company is seeking to become a qualified custodian (through a fiduciary license) with $100 million in insurance coverage to address concerns about the storage of digital assets associated with its products.

White also said that

“By the approval of the regulator, Bakkt's trust company will become a qualified custodian of Bitcoin, operating separately from the Intercontinental Exchange (ICE) futures exchange, will receive $100 million in insurance and will have independent governance. ”

At the end, he said, “Bakkt may be a form of “moon landing plan”, but it is based on supporting the application of future financial and blockchain technologies. Bakkt strives to help institutions enter the market safely in their own way. It is the right step for the future."

Note: In early August 2018, the New York Stock Exchange (NYSE) parent company Intercontinental Exchange (ICE) and Microsoft, Starbucks, BCG and other companies jointly established a cryptographic asset trading platform Bakket. The platform is designed to create an open, seamless global network that allows investors, businesses and consumers to buy, store and pay for digital assets in a simple, efficient and secure manner. In September of the same year, Bakkt announced that it will launch the first physical settlement of the Bitcoin futures contract.