As interest in the cryptocurrency market grows, so does the demand for security and efficiency. Bakkt is a company that will enable consumers and institutions to buy, sell, store and spend digital assets on a seamless global network. It will bring together several major groups who will join their efforts to propose a solution adapted to an integration of the crypto-currencies in the very diverse uses of the everyday life.
Created by the Intercontinental Exchange, Bakkt will work with companies such as BCG, Starbucks and Microsoft to create an open ecosystem that meets the needs of the growing "crypto-active" market.
Bakkt plans to create federally regulated markets and storage spaces, as well as applications for merchants and the general public. For a start Bakkt will focus on the trading and conversion of bitcoin, since it is currently the most liquid digital currency.
By combining a regulated infrastructure with applications for both institutions and the general public, Bakkt will build on its experience of transparency and trust in dealing with these unregulated markets. It intends to play an important role in promoting these new digital assets to institutions, merchants and consumers.
As part of the first round of the Bakkt offer, Intercontinental Exchange, a US-based exchange and clearing company, plans to launch a Bitcoin futures contract with physical delivery in November 2018, subject to the approval of the CFTC (Commodity Futures Trading Commission: an independent agency of the United States Government responsible for regulating financial derivatives in particular). Regulated markets will establish new protocols to manage the specific security and regulatory requirements of digital currencies.
The Bakkt will be launched in the coming weeks. And that opens up beautiful prospects. Could we be at the dawn of a third boom?
I will try and do it in a shortish answer as it is important for all of us here. The Bakkt launch on the 24th January is huge and is going to make crypto currencies become mainstream for investors.
Bakkt is the name of the company formed with the help of Microsoft and ICE (Intercontinental Exchange). The ICE group is part of the New York Stock Exchange and Bakkt is going to be their new exchange for Institution funds going into crypto currencies.
Bakkt was going to launch on the 12th December but had to be delayed due to the amount of interest. This is big news as the money coming in won't be small, but billions of dollars . This is all new money and it is basically Wall Street coming into crypto.
Some of the companies who have announced already are Fidelity which is roughly 26 times bigger than the entire market cap of crypto. What it should do is change the current prices we see now and give a massive boost which we all need.
Crypto investing is going to change as we know it moving out of the hands of the amateurs into the hands of the professionals. This is the reason why we all need to hold on to what we have and try and accumulate as much as possible. Prices will not stay this low for much longer and the 24 th January is the starting point.
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