Kelly Loeffler, CEO of the highly anticipated, cryptocurrency platform, Bakkt has stated that she wants a crypto revolution
During an interview with Fortune, Loeffler asserted that the current bear market and uncertainty surrounding cryptocurrencies is reminiscent of the energy market of the early 2000’s, of which, she says, the intercontinental exchange (ICE) managed to salvage:
“The digital market is fragmented like the energy market in the early 2000s. ICE was the pioneer attracting more and more institutions to trade energy, which is what created today’s liquid market … We’re about to see a revolution on the same scale in cryptocurrencies.”.
An introduction to @Bakktapp from CEO Kelly Loeffler— NYSE (@NYSE) August 3, 2018
Bakkt is a notable step in the right direction for many reasons, but perhaps the chief among them is its institutional backing. ICE - exchange operator of the New York Stock Exchange – is the organization responsible for the creation of the platform; thanks to its prominent position at the head of traditional financial markets, many believe that this new venture by ICE will bring further legitimacy, and in turn, more institutional investment into the cryptocurrency space.
As recently reported, Coinbase veteran, Adam White, key architect in the building of the nascent brokerage, has taken up the role of Chief Operating Officer within Bakkt. In an interview with fortune White spoke of his new position:
“The interest in Bitcoin and other currencies started changing from retail to the institutional side. But the level of infrastructure of the existing trading sites often didn’t meet their expectations. That’s why they’re waiting on the sidelines … That’s why I joined Bakkt,”.