Copy link
Increase text size
Decrease text size
Link copied

Bakkt Warehouse to start accepting bitcoin deposits from September 06

Thu, 29 Aug 2019, 04:51 am UTC

Bitcoin futures platform Bakkt has announced customers will be able to store their bitcoin in its warehouse, starting September 06.

The announcement comes as Bakkt prepares to launch its much-awaited futures contract offerings on September 23. It made the announcement in a tweet:


Owned by Intercontinental Exchange (ICE), the parent company of New York Stock Exchange (NYSE), Bakkt recently obtained a New York state trust charter from the New York State Department of Financial Services (NYDFS).

CEO Kelly Loeffler explained that the approval from the NYDFS allows them to create Bakkt Trust Company, a qualified custodian. Bakkt Warehouse, which is part of Bakkt Trust Company, will custody bitcoin for physically delivered futures.

Following the regulatory clearance, Bakkt is just days away from launching its physically-delivered daily and monthly bitcoin futures contracts, which were first announced last year. It commenced user acceptance testing last month.

A daily settlement bitcoin future will allow customers to transact in a same-day market, while monthly bitcoin futures contracts will enable trading in the front month and across the forward pricing curve. The contracts will be physically settled, which means “that the selling Clearing member would be required at settlement to deliver to the buying Clearing Member a specified quantity of Bitcoin.”

Speaking with CoinDesk, Loeffler said that the daily contract will be margined, but did not disclose how much leverage would be available on margined contracts. The details are expected to be announced in the forthcoming weeks.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $9,652.28 (-2.81%)
  • Ethereum (ETH) $250.21 (-6.19%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $388.96 (-10.76%)
  • Bitcoin SV (BSV) $272.28 (-11.85%)
  • Bitcoin (BTC) $9,652.28 (-2.81%)
Feb 17, 2020 (Monday)
12:06
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
12:05
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:58
CFTC sues Colorado resident with fraud in crypto-related Ponzi scheme
11:22
Crypto Technicals: ETH/USD slips below 5-DMA, 'Golden Cross' to limit downside
11:15
Central Bank of The Bahamas to roll out CBDC in H2 2020
10:45
Stellar Development Foundation joins Blockchain Association
10:21
Dubai Multi Commodities Centre to launch blockchain-based sugar trading platform
10:20
Crypto Technicals: BTC/USD holds 21-EMA support, break below could see further weakness
09:22
Binance applied for an operating license in Singapore, CEO confirms
07:23
IOHK establishes new research lab at University of Wyoming
06:53
Chinese forex regulator SAFE’s blockchain cross-border financing pilot continues expansion
05:14
Blockchain social media platform Steemit to migrate to TRON network
Feb 14, 2020 (Friday)
13:11
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
13:11
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
12:24
Israel’s stock exchange partners with Edinburgh-based startup for its Blockchain Securities Lending platform
11:48
Blockchain insurance startup B3i completes 30 reinsurance contracts on its platform
11:47
Crypto Technicals: TRON (TRX) confirms 'Golden Cross' on the daily charts, eyes 61.8% Fib at 0.0297
11:04
Crypto investment firm Galaxy Digital lays off 15% of its workforce
10:18
Circle now seeks to sell off crowdfunding unit SeedInvest: Report
09:47
SBI Crypto enters into blockchain cooperation partnership with Northern Data
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft