Owner of NYSE launches Bakkt crypto exchange & custodial solution

posted 15 days ago
Bitcoin could be on the verge of breaking through as a mainstream currency as this is the goal of a startup that is soon to be launched by one of the most powerful players on Wall Street, with backing from some of America’s leading companies including Microsoft and Starbucks (who plan to use the new platform to accept BTC payments.) This morning the Intercontinental Exchange—the trading colossus that owns the New York Stock Exchange and other global marketplaces—announced that it is forming a new company called Bakkt.

The new venture, which is expected to launch in November, will offer a federally regulated market for Bitcoin. With the creation of Bakkt, ICE aims to transform Bitcoin into a trusted global currency with broad usage. The founding imperative for Bakkt will be to make Bitcoin a sound and secure offering for key constituents that now mostly shun it—the world’s big financial institutions. The goal is to clear the way for major money managers to offer Bitcoin mutual funds, pension funds, and ETFs, as highly regulated, mainstream investments.
Tags: bitcoin, news