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The new cryptocurrency start-up, ‘Bakkt’ which is the digital asset ecosystem established by Intercontinental Exchanges (ICE), was all set to launch bitcoin futures contracts with physically delivery facilities.
The objective is to offer new tracks especially for institutional clients and retail traders to make access for cryptocurrency trading.
Bakkt has now made the announcement of the acquisition deal of the Digital Asset Custody Company (DACC) along with several other updates to boost the company’s credentials and operations.
DACC’s native support of over 100 digital assets and 13 distinct blockchains will “serve as an important accelerator,” for the Bakkt platform, as per the sources of twitter and the blog post of Bakkt COO Adam White. Moreover, Bakkt’s acquisition deal includes hiring the entire DACC team.
ICE, which is the parent of the NYSE, originally intended to unveil Bakkt back in mid-December. Then it was deferred to late January’2019. Later on, the launch was again deferred indefinitely due to the US shutdwon.
The launch of ICE’s Bakkt (physically settled-BTC futures) now awaits CFTC’s green signal. While Bakkt has now given new hints of release day, in an announcement on Medium blogspot.
Kelly Loeffler, the CEO mentions “as we work through regulatory approvals, we are mindful that the infrastructure we are building has the potential to create more opportunities for digital assets to grow in relevance and trust — by being more secure, investible and useful.”
The Intercontinental Exchange appears to be on a quest to make Bitcoin investing easier. The company is said to be in advanced discussions with the US CFTC regarding the launch of physically settled Bitcoin futures.
Currency Strength Index: FxWirePro's hourly BTC spot index has shown -19 (which is mildly bearish), while USD is flashing at -124 (highly bearish) while articulating at 03:41 GMT.
For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex
