On July 22, the American cryptocurrency platform Bakkt will start testing Bitcoin futures with a physical delivery of the PTS. This was reported on Bakkt's Medium blog by Bakkt’s Chief Operating Officer Adam White.
“On July 22, two days after the 50th anniversary of the Apollo 11 mission, Bakkt will begin testing at the user level bitcoin futures listed on ICE Futures US with calculations for ICE Clear US ,” wrote White.
He added that the Bakkt solution eliminates a number of risks that hinder the wider distribution of cryptocurrencies – regulatory uncertainty, the large difference in bitcoin prices across different trading platforms, market manipulability and problems associated with the safe storage of digital assets.
The company wants to become a qualified custodian of digital assets (through a trust license) with an insurance of $ 100 million.
“If approved by the regulatory body, the Bakkt trust company will perform the functions of a qualified custodial service for Bitcoin (BTC) , will operate separately from the ICE futures exchange, will be insured for $ 100 million and will have separate management,” the blog says.
White believes that launching a new product will set a new standard for gaining access to a crypto machine. Among its advantages, it notes a fully regulated custodial service, physical delivery of the PTS, taking into account the price in the futures market, and not in the spot market, compliance with high standards of compliance and AML / KYC policies.
At the same time, institutional clients of Bakkt will have the opportunity to carry out package deals, participate in a motivational program for market makers, take advantage of holidays to pay commissions at the end of the year, integrate with independent software vendors and regulated brokerage platforms.
@Bakkt may be a "moonshot bet" but the market structure problems we solve are real. User testing starts July 22nd – learn more here: https://t.co/AwJ6OgBdn5
– Adam White (@WhiteAdamL) June 13, 2019
Recall, Bakkt is preparing to launch from last year. A month ago, its head Kelly Lefler (Kelly Loeffler) reported that testing of bitcoin futures deliveries at this site is scheduled for early July.
Now crypto enthusiasts are wondering whether the new deadline will be observed, and how this event will affect the price of BTC.
"Since the autumn of last year, so many Bakkt launch dates have been announced that I stopped responding to them."
So many Bakkt "dates" have been announced since last Fall that I've become desensitized to them.
IQ has too.– Crypto Entropy (@ Crypt0Entropy) June 13, 2019
“Has anyone asked what year this is about?” Perhaps this is July 22, 2022. "
did you ask them which year? that could be 22nd July 2022
– Trinh Vuong (@ TrinhVuong10) June 13, 2019
"They get the same thing as Justin Sun from Tron for their announcements of announcements."
They're getting a future planned announcement.
– Patrick (@Patrick_LTC) June 13, 2019
Publication date 14.06.2019
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