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Bakkt to Launch of Futures and Custody Platform in US on Sept. 23

By Robin Wong | August 18, 2019
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Bakkt – the highly-anticipated Bitcoin (BTC) futures platform developed by the Intercontinental Exchange (ICE) – has recently introduced the upcoming launch of its much-anticipated platform for daily and monthly futures in the United States, which is scheduled for September 23.

Specifically, the official launch comes after receiving approval from different regulators, especially the Commodity Futures Trading Commission (CFTC). Last year, the firm has initially announced the launch Bakkt’s physically delivered futures, before struggling with numerous delays due to compliance issues. 

The firm has reportedly been set to move its BTC futures delivery features to the testing phase. An array of organizations and individuals, from all over the globe, will take part in the testing process for user acceptance Bitcoin daily and monthly futures, starting July 23.

According to its press release, Bakkt has organized multiple events in New York and Chicago — big cities which are critical to the U.S. futures market. The firm also hosted meetings with regulators from the CFTC as well as the Securities and Exchange Commission (SEC). 

Moreover, in order to support futures contracts, Bakkt is also setting up partnerships with Intercontinental Exchange Futures U.S. and Intercontinental Exchange Clear U.S. 

Earlier,  Bakkt has previously introduced the testing phase for the futures in June, as its COO Adam White claimed, “On July 22, two days after Apollo 11’s 50th anniversary, Bakkt will initiate user acceptance testing for its Bitcoin futures listed and traded at ICE Futures U.S. and cleared at ICE Clear US.”

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