Bakkt announced that its first products will be futures with physical supply of bitcoins, which can be purchased for three fiat currencies: the US dollar, the British pound and the euro.
Our first contracts will be physically delivered Bitcoin futures contracts versus fiat currencies, including USD, GBP and EUR. For example, buying one USD/BTC futures contract will result in daily delivery of one Bitcoin into the customer’s account.
Bakkt at Twitter
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, was announced in August this year. It is created by the operator of the New York Stock Exchange (NYSE) Intercontinental Exchange (ICE) in partnership with Microsoft, Starbucks and BCG.
As it was then reported, the Bakkt 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.
Model, proposed Bakkt raises concerns among a number of representatives of the community. So, earlier this month the US Securities and Exchange Commission (SEC) received a letter, in which the department warned of the dangers of improper regulation of corporate implementation of bitcoin for the technology itself.
The launch of the Bakkt platform is expected in November.