The parent company of the New York Stock Exchange (NYSE) Intercontinental Exchange (ICE) has confirmed that the launch of the Bakkt cryptocurrency platform will take place on December 12, 2018.
The first product of Bakkt will be Bitcoin futures contracts with a physical asset supply.
The official statement says that the bitcoins that will be used to secure contracts will be stored in the ICE digital asset repository. Contracts will be cleared through the division of the ICE Clear US exchange.
Each futures contract calls for delivery of one bitcoin held in the Bakkt Digital Asset Warehouse, and will trade in U.S. dollar terms. One daily contract will be listed for trading each Exchange Business Day.
Previously announced GBP / BTC and EUR / BTC pairs were not mentioned in the message.
The plans to launch the Bakkt platform, which will allow users and institutional investors to buy, sell and store digital assets in the global ecosystem, were announced in August of this year. The project partners are Microsoft, Starbucks and BCG.
Earlier in October, it became known that the position of Bakkt’s operating director was taken by ex-Coinbase manager Adam White.