Bakkt is ready to launch next month, says CEO Kelly Loeffler
Bakkt has been cleared to launch in the next month. The announcement is made after getting the approval from US Commodity Futures Trading System and now it is free to launch its Bitcoin contracts.
CEO of Bakkt Kelly Loeffler wrote a blog post on Friday in which she says:
Our contracts have already received the green light from the CFTS through the self-certification process and user acceptance testing has begun.
Furthermore, she added in her blog post about Bakkt Warehouse that is designed for regulation and secure custody of bitcoin and is protected by $125 million in insurance.
She also said that an institutional compliance and anti-money laundering program would be included in order to provide a trustworthy ecosystem. She included this into his blog post that the Bakkt program with new services would like to cover the gap between rail and institutional trading in the retail-oriented market of cryptocurrency.
Bitcoin’s future contracts were supposed to be launched in December 2018 by the Bakkt Trust Company but because of some regulatory reasons and issues of securing custody of Bitcoin, they had to delay its launch date. And now as Bakkt Warehouse has provided these facilitations, so they have announced its launch date.
Bakkt Warehouse
She wrote down the importance of Bakkt Warehouse by saying that we have used cyber and physical security protections in order to build up the Bakkt Warehouse. Both of these (cyber and physical security protections) are used by many top markets in which the most active market NYSE is included, so we can believe in the worth of both of these and hence in the Bakkt Warehouse services.
With the support of Bakkt Warehouse, they are now finally looking positive and are planning to go to the market with their Bitcoin future trading contracts in the next month. Kelly also said that they are doing preparations for user testing. There are still some doubts in some forms of crypto-community regarding the launch of Bakkt because Bakkt’s history is making them create doubts about its launch.
Bitcoin price may lower with the launch of Bakkt because in the beginning the investors and traders would want to buy the Bitcoin futures contracts on low cost, so in this case, the worth of Bitcoin may fall.
Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.
