Intercontinental Exchange ICE Bitcoin futures platform postponed Bakkt’s launch date.
According to the announcement of the company’s blog, Bakkt will be launched on 24 January 2019. Futures and physical Bitcoin contracts will start on this date at the same time. The platform announced that the decision to postpone was taken to give users more time. In addition, new add-ons will be done before the start of the management board said.
Bakkt CEO Kelly Loeffler talked about the factors that caused the delay. Stating that the interest is quite intense, Loeffler said that they needed more time to put all the pieces into place. The CEO added,
When we add new products to our platform, we need to evaluate the risks that come with these products. Tests and retesting. Since crypto coins are a new value class, new resources must be added. So we decided that it would be logical to update our road map.
Bakkt was previously scheduled to start on 12 December. The new start date may still depend on the state of the regulations. The platform has not yet been approved by the regulators. The Bakkt platform plans to offer physically signed Bitcoin futures. At the end of the contracts, the investors will receive Bitcoin instead of the nominal currency. The platform aims to offer Bitcoin futures as well as other products.
We will share the details in the coming weeks. We have our insurances for Bitcoin, our cold wallets are ready and we rely on our safety structure. Our ultimate goal is to provide service at the corporate level.
Bakkt has announced that they are working with BCG, Microsoft and Starbucks for product improvements. These companies will help both the customer experience and risk management.