Bitcoin, Crypto currency, Blockchain

Bakkt erhäkt 182.5 million USD funding,, BTC Futures, more in work

Bakkt erhäkt 182.5 million USD funding,, BTC Futures approval in work

Home News Bakkt erhäkt 182.5 million USD funding,, BTC Futures approval in work

Of
Marcus Misiak –
01.01.2019

The Bakkt, a subsidiary of the Intercontinental Exchange (parent company of the NYSE – New York stock exchange) has made on new year’s eve a big announcement. The Chairman of the Board of Bakkt, Kelly Loeffler said in a statement that Bakkt has completed its first round of financing with 12 partners and investors.

The financing confirms the growing interest in Bitcoin by Fintech Venture capital investors, leading technology companies and Wall Street institutions, because of the new platform, which was founded by the parent company of the New York stock exchange, is primarily focused on promoting the institutional access to digital Assets and to expand at the same time, the use by retailers and consumers.

The companies that have invested, are considered to be a leading Player in the financial – as well as in the crypto-currency area. There are Horizons Ventures Galaxy Digital, Boston Consulting Group, Microsoft’s Venture Capital Arm, Pantera Capital, PayU, CMT, Digital, Eagle Seven, Goldfinch Partners, Alan Howard, M12, Naspers, Protocol Ventures and Intercontinental Exchange. In this round of financing Bakkt has collected over 182,5 million dollars.

Loeffler said in the press release:

Our work today focuses on promoting the institutional access for digital Assets, as well as the commercial and private use, and we build on this Vision and together working with large companies such as Starbucks.

Start date uncertain

At the beginning of December, the start date of Bakkt was on the 24. January moved after the original date could not be held in December. As we reported a few days ago, could delay the launch, however, due to the approval procedure of the CFTC.

In the last Update on the Status of the project, no concrete start date for Bakkt is specified.

Our Team has been working together for almost a year in 2018, closely with the Commodity Futures Trading Commission. At the industry level, the regulatory approval of Bitcoin for physically delivered and stored Bitcoins will establish the voice of the US authorities in the Wake of the global development of the Digital Asset market, and strengthen. We have submitted our applications and the time for the authorisation procedure is now based on the regulatory audit.

The founder of the company, Intercontinental Exchange, is expected in early 2019, an updated schedule shall be submitted.

Loeffler reiterated in the communication, but also that physically delivered and stored Bitcoin with the approval of the Supervisory authorities are to come on the market, and that it “will strengthen the voice of the US authorities in the Wake of the global development of the Digital Asset market”.

We have submitted our applications and the timing for approval is now based on the Supervisory review process [….] Clearing firms and customers have joined us, while we work on the CFTC approval. We have made in December, great progress, and the customers will continue to have on Board while we wait for the “green light”.

Leave a Comment