Bakkt: "Race day is approaching"; former Paypal and Google exec hired

18 Apr, 2019 | Updated: 18 Apr, 2019
by Will Heasman
Bakkt: Race day is approaching; former Paypal and Google exec hired

After its multiple delays, Bakkt, the institutionally geared crypto investment platform appears to be slowly showing signs of life. According to its CEO, Kelly Loeffler, Bakkt could be soon upon us.

That is according to a Medium post written by Loeffler, which relayed, among other things, that approval from the US Commodity and Futures trading commission (CFTC) is the only thing that stands in the way of crypto being brought to the mainstream.

Bakkt is no small undertaking and as such its perhaps no surprise that it’s taking longer than some expected. Despite its regulatory hurdles, the firm is continuing to build its infrastructure, both in a technological aspect and within its team.

Alongside several notable hires, such as its COO - the Coinbase veteran, Adam White - Bakkt relays that another critical acquisition has been made in its new Chief Product Officer (CPO) Mike Blandina.  

Blandina’s resume boasts the former head of payments and credit engineering at PayPal, and director of engineering for Google Wallet at Google; credentials that will perhaps serve well within the crypto industry.

With this latest hire, Loeffler notes that although regulatory struggles have proven a hindrance, the building continues nonetheless:

“As we work through regulatory approvals, we are mindful that the infrastructure we are building has the potential to create more opportunities for digital assets to grow in relevance and trust — by being more secure, investible and useful.

Race day is approaching, and there is more work to be done. I’m proud to be going the distance with this growing team and of the culture, we are building, while bringing digital assets into the mainstream economy.”

Bakkt is said to launch during some point at toward the end of 2019. Chepicap will keep you posted. 

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