Intercontinental Exchange plans to spend up to the end of the year up to $ 25 million for the development of the Bakkt

Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, expects before the end of the year to invest in the development of the Bitcoin futures platform Bakkt up to $ 25 million, reports CoinDesk .

In the course of the teleconference devoted to the results of the 4th quarter of 2018 last week, ICE Chief Financial Officer Scott Hill said that investments in Bakkt during this fiscal year will be from $ 20 million to $ 25 million.

CEO Jeff Spreker, in turn, said that investing in Bakkt is quite an ambitious task for ICE, since it is not a typical product for it. Nevertheless, he noted, Bakkt was able to attract such large organizations as Microsoft Venture Fund and Starbucks to cooperate.

At the same time, Spreker found it difficult to name the exact launch date of Bakkt. Recall, it was originally expected that the platform will begin work on January 24, but these dates were postponed. Bakkt intends to offer bitcoin futures with a physical asset supply.

Recall that on the last day of 2018, the platform closed the first round of financing , within which it attracted $ 182.5 million. In the new year Bakkt acquired part of the assets of the futures broker Rosenthal Collins Group, expanded the staff, and also announced details of upcoming Bitcoin futures.

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