Not Just Bitcoin – Bakkt Wants to Know Which Cryptocurrencies It Should Add Next
Bakkt, the new company from Intercontinental Exchange, the owner of the New York Stock Exchange, is reiterating its master plan to bring multiple cryptocurrencies to the mainstream.
The platform aims to offer regulated trading, clearing and custody, and a secured environment where consumers and institutions can seamlessly buy, sell, store and spend digital assets.
Bakkt says Bitcoin is the clear crypto leader and the obvious choice for its first futures contract. But the company is also “taking opportunities in our start-up phase to expand our offering” and is open to feedback on which digital assets it should support next.
“Bitcoin today accounts for over half of total crypto market capitalization and has been deemed to be a commodity, and its derivatives are regulated in the US by the CFTC.
As the world’s most liquid and widely distributed cryptocurrency, and where we’ve seen the most customer demand, bitcoin’s profile creates a liquid product on which to build a futures contract.
We’ll consider additional contracts as the landscape evolves and as we receive additional customer feedback about what they want and need.”
Bakkt says inquiries can be sent to email@example.com. On Tuesday, Bakkt announced it is delaying its plans to launch its first Bitcoin futures contract, noting that the “volume of interest” and work required to get everything up and running requires more time.
“As is often true with product launches, there are new processes, risks and mitigants to test and re-test, and in the case of crypto, a new asset class to which these resources are being applied. So, it makes sense to adjust our timeline as we work with the industry toward launch.”
The company’s new target date for launch is January 24th, pending regulatory approval.