The launch of the Bakkt crypto platform will be held on September 23rd

Bakkt has received approval from all the necessary regulators and is preparing to launch the long-awaited crypto platform on September 23rd.

The launch of Bakkt became known from the company's Medium publication. Kelly Loffler, head of Bakkt, announced she received a trust license from CFTC (US Department of Financial Services). Approval of the regulator will allow the company to present on the market supply futures for Bitcoin cryptocurrency, which everyone has been waiting for.

Bakkt plans to provide users with access to two types of contracts – with daily and monthly settlements. Settlements will be made through Bakkt Warehouse. Loeffler noted that Bitcoin futures have the advantage of being independent of spot markets to determine settlement prices. Thus, a new financial instrument will serve investors as a transparent pricing mechanism for BTC.

Futures are supposed to be listed on ICE Futures US, while ICE Clear US is responsible for clearing. The new financial instrument will be provided with a guarantee fund, which already contains $ 35 million.

In addition, Bakkt representatives want to solve the liquidity problem, as well as improve the quality of services, cope with operational risks, and make the platform reliable and accessible for institutional investors who intend to work with Bitcoin.

A little earlier, information appeared that the LedgerX BTC derivatives platform also received approval from CFTC for the launch of deliverable BTC futures, which would enable it to become the first company in the United States to offer such a product. However, a misunderstanding arose between CFTC and LedgerX – the regulator issued the company a DCM license, which allows only clearing crypto swaps.