Bakkt to Kick Start Bitcoin Futures Testing
Bakkt has announced its plans to start the testing for Bitcoin futures trading in the month of July. Bakkt has digital asset support. The regulated ecosystem in Bakkt is built upon a foundation of safe technologies that serve institutions, merchants and consumers, from the secure storage of digital assets to the transactions.
Today, we’re pleased to update you on the launch of bitcoin futures contracts developed by Bakkt in collaboration with ICE Futures U.S. and ICE Clear U.S. https://t.co/8G3YcFbPl2
— Bakkt (@Bakkt) May 13, 2019
In conjunction with two other subsidiaries, ICE Futures US and ICE Clear US, Bakkt will be launched. Also, the NYSE’s (New York Stock Exchange) parent company is ICE. ICE Futures is going to deal with Futures while ICE Clear USA is going to run the platform for margin trading.
Bakkt CEO, Kelly Loeffler then confirmed that their organisation is closely working with the Commodities Futures Trading Commission (CFTC), United States. Bakkt promises to do its best to meet “trading, transparency and market security” requirements as well as regulatory compliance.
This report is just weeks after it had found that Bakkt works with BNY Mellon, a major US bank. As we have reported, the exchange worked closely with the institution to secure private keys for Bitcoin and other digital assets, particularly through a geographical distribution system. In the same announcement, Bakkt had acquired Digital Asset Custody Company (DACC) and secured a ground wide insurance company for $100 million.
Bakkt’s compliance focus covers all aspects of our activities. There is constant addition of AML and KYC to make sure our platform is the most robust and trustworthy, whether at institutional and consumer level or in-chain analytics and surveillance for all crypto deposits and removals. Bakkt also participates regularly in audits of financial, security and regulatory compliance.