Bakkt Won't Support Margin Trading

CEO of a trading site shared new information about the platform
21 August 2018   516

The CEO of Bakkt trading platform Kelly Loeffler said that the site will not support margin trading, and all transactions will be fully secured with assets.

A critical element to price discovery is physical delivery. Specifically, with our solution, the buying and selling of Bitcoin is fully collateralized or pre-funded. As such, our new daily Bitcoin contract will not be traded on margin, use leverage, or serve to create a paper claim on a real asset. This supports market integrity and differentiates our effort from existing futures and crypto exchanges which allow for margin, leverage and cash settlement. 
 

Kelly Loeffler

CEO, Bakkt

Also, Kelly Loeffler told new details about the upcoming platform. Thus, at the present time, a robust framework for the creation of an exchange is being developed. This framework will have several important characteristics, including compliance with regulatory requirements of regulators, a transparent system of pricing for assets and infrastructure at the institutional level.

Parent company of the New York Stock Exchange (NYSE), one of the world's largest financial corporations Intercontinental Exchange (ICE) in partnership with Microsoft, Starbucks and BCG are engadged in creating Bakkt.

Bakkt's ecosystem will include federally regulated exchanges, custodian services, applications for merchants and users. Bitcoin, as the most liquid crypto currency, will be the first in the listing of the new platform and will be traded in pairs with fiat currencies.

Binance to Partner with Chainalysis for AML

Use of Chainalysis KYT solution will allow to compile with KYC- and AML-norms and also simplify the process of opening bank accounts
18 October 2018   95

The largest exchange by daily trading volume Binance uses software from Chainalysis, called Chainalysis KYT [know your transaction], to monitor real-time transactions and identify transfers related to criminal activity. This is stated in a joint press release.

Cryptocurrency businesses of all sizes face the same core challenge: earning the trust of regulators, financial institutions and users. We expect many to follow Binance's lead to build world-class AML compliance programs to satisfy regulators globally and build trust with major financial institutions.
 

Jonathan Levin

Co-Founder and COO, Chainalysis

Thus, the use of software from Chainalysis not only guarantee compliance with the KYC- and AML-norms, but also simplify the process of opening bank accounts.

By working with Chainalysis, we are able to continue building a foundational compliance program that enables the next phase of our growth. Our vision is to provide the infrastructure for a blockchain ecosystem and increase the freedom of money globally, while adhering to regulatory mandates in the countries we serve.
 

Wei Zhou

CFO, Binance

Chainalysis KYT release was held in April.