Bitcoin exchange Bakkt buys shares at Rosenthal Collins Group
Home News Bitcoin exchange Bakkt buys shares at Rosenthal Collins Group
Marcel Knobloch –
The Bitcoin exchange will offer Bakkt “physical Bitcoin Futures” if they are approved by the CFTC a final result. Currently, the stock market, however, is not silent, but has announced an investment in a over a hundred years of aging Broker.
The CFTC is reluctant to continue to a final decision regarding the application of the Bitcoin Futures Exchange to cases Bakkt. The application is already available since last year on the table and waits for confirmation or rejection. The Chairman of the Board of Bakkt, Kelly Loeffler, announced that Bakkt will acquire shares in a broker house, futures, Rosenthal Collins Group. The transaction is expected to be completed by the end of February.
Rosenthal Collins Group is an independent dealer for futures contracts with over 100 years of experience in the field of Clearing, trade execution, risk management, the introduction of broker services, and other Services. Bakkt had recently completed its first round of financing of 183 million U.S. dollars. More than 12 celebrities Partner on Board, including Microsoft Ventures, Pantera Capital, the Boston Consulting group M12, the Hong Kong billionaire Li Ka-Shing and Horizons Ventures.
Through the purchase of RCG will receive Bakkt important competences in the area of risk management as well as regulatory region in AML / KYC, and customer service processes. This purchase marks the continuing efforts to prepare for the market and its legal requirements, it needs, in the context of compliant operation. Löffler points out that this is only the beginning and further investment will follow, so that the complex trade in the Ecosystem of crypto-currencies properly can flow (freely translated):
This acquisition underlines the fact that we do not stand still, because we expect the CFTC to the approval of the approval of the regulated trade on our crypto markets. Our Mission requires a significant investment in technology to create an innovative platform, as well as knowledge of the Financial markets, the most trusted Fintech to provide the Ecosystem for digital Assets.
Bakkt aims to physically secure Bitcoin Futures contracts, as well as custody solutions for institutional investors. The Start was postponed due to the already described uncertainty in the 24.01.2018, where it can not be observed to be of this date. In this case, the Start of the consent of the Commodities and Futures Commision (CFTC).