Bakkt Launches Its Custody Solution Ahead of Bitcoin Futures Rollout

Libra Coin News
Fri, 09/06/2019 - 15:45
Alex Dovbnya
Bakkt is inching closer to offering its physically-settled Bitcoin futures
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There will be no more delays.

Bakkt, the ICE-backed exchange, has delivered on its promise to launch its own custodian solution. The new platform, which is dubbed “Bakkt Warehouse,” has officially allowed its customers to make despite and withdrawals to get used to the process prior to the launch of its Bitcoin futures.  

$1 Bln Worth of Bitcoin Moved to Unknown Wallet. Some Suggest It Could Be Bakkt Warehouse

The company’s custody platform is handled by Bakkt Trust Co., which received the green light from the New York State Department of Financial Services (NYSDFS) back in August.  

As reported by U.Today, Bakkt’s much-anticipated Bitcoin futures will go live on Sept. 23. The event is supposed to be a major catalyst for the top coin, which has witnessed an incredible rally in 2019. 

Unlike the product offered by CME Group, these futures will be physically-settled, which means that the company’s customers will be able to get their payouts in BTC once their contracts expire.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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