Bakkt delaying the launch of its Bitcoin futures platform to January

20 Nov, 2018
by Richard Allen
Breaking News
Bakkt delaying the launch of its Bitcoin futures platform to January

In a Medium post, Intercontinental Exchange’s Bakkt has announced that it’s delaying the launch of its Bitcoin futures trading platform until January 24, 2019.

Bakkt had originally hoped to launch their product on December 12, but CEO Kelly Loeffler explained in the post that “the volume of interest and work required to get all of the pieces in place” are the reasons it's been delayed.

“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,” Loeffler explained.

Trading and warehousing are set to launch on January 24, 2019, as well. However, the platform is still waiting on regulatory approval, so this new date may not be set in stone.

Bakkt made a previous announcement in which it stated that it would be launching its first product: physical Bitcoin futures. Physical in this case refers to customers receiving Bitcoin for their payout, as opposed to the usual fiat currency.

Bakkt however, are planning on more products than just Bitcoin futures, as Loeffler stated “we are taking opportunities in our start-up phase to expand our offering.”

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Read more about: Bakkt Bitcoin (BTC)

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