Bakkt to Allow Bitcoin Warehouse Deposits from September 6

Cryptocurrency platform Bakkt will allow its users to store digital currencies in the Bakkt Warehouse from September 6.

The company made the announcement on Wednesday via a tweet and mentioned that the storage of Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term would “prepare for the launch” of its upcoming futures contracts platform.

On Sept 6, our Warehouse will begin offering secure storage of customer bitcoin to prepare for the launch of Bakkt Bitcoin Daily & Monthly Futures when they launch on Sept 23

These contracts will enable physical delivery of bitcoin with end-to-end regulated markets and custody — Bakkt (@Bakkt) August 28, 2019

The Intercontinental Exchange-owned company also mentioned that it is set to launch its crypto futures platform on September 23 after obtaining a green light from the Commodity Futures Trading Commission (CFTC). Although the launch date was delayed several times due to regulatory holdups, it will be the first physically-settled Bitcoin futures contracts in the US.

It has already launched a test version of its platform last month to perform “user acceptance testing.”

Ending settlement price manipulation

Unlike CME Group, which offers cash-settled settled Bitcoin futures, Bakkt will offer physically settled contracts, meaning the trader will receive Bitcoins upon the expiry of the contract instead of fiat denominations.

The regulated exchange will also offer traders a daily margined product, which might turn out to be an alternative to spot trading.

Bakkt Warehouse is a part of Bakkt Trust Company and was developed with the same cybersecurity and infrastructure as in the New York Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term.

Earlier this year, Bakkt acquired Digital Asset Custody Company (DACC), which provides cryptocurrency custody solution to institutional investors and token issuers holding digital assets. The takeover helped Bakkt secure the NY regulator’s approval to operate as a so-called ‘qualified custodian,’ which permits the company itself to hold custody of customers’ tokens.

Bakkt also announced that it has partnered with BNY Mellon to offer geographically-distributed storage of private keys secured by the bank.