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Bakkt Launches Its Custody Solution Ahead of Bitcoin Futures Rollout

  • Alex Dovbnya
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    Bakkt is inching closer to offering its physically-settled Bitcoin futures

Bakkt Launches Its Custody Solution Ahead of Bitcoin Futures Rollout

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.  

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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.

Cover image via www.freepik.com
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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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