Copy link
Increase text size
Decrease text size
Link copied

Bakkt bitcoin futures contracts slated to launch in Singapore on Dec. 9

ICE has just announced that its Bakkt bitcoin futures contracts will be launching this Dec. 9 in Singapore, a move that’s expected to attract more investors to the crypto space.

Image: Bakkt Facebook

Mon, 25 Nov 2019, 06:05 am UTC

Intercontinental Exchange (ICE) has now announced the launching of the Bakkt Bitcoin (USD) Cash Settled Monthly Futures contract. The contract will be listed on ICE Futures Singapore and cleared by ICE Clear Singapore, both of which are overseen by the Monetary Authority of Singapore (MAS).

The Bakkt Bitcoin Cash Settled Monthly Futures will be settled against the prices of Bakkt’s physically delivered bitcoin contracts. With ICE’s experience in the financial market, this maneuver aims to attract more investors in the crypto industry in an attempt to expedite mainstream adoption, said Lucas Schmeddes, President & COO of ICE Futures and Clear Singapore.

“Our new cash-settled futures contract will offer investors in Asia and around the world a convenient, capital efficient way to gain or hedge exposure in bitcoin markets. Building off the success of our deliverable futures contract, the cash settled futures will leverage ICE’s regulated, globally-accessible market to offer a safe, secure and compliant environment for the trading of bitcoin,” Schmeddes said.

Bakkt prepares to launch more initiatives

The contract is slated to launch on Dec. 9 along with the first options contract for bitcoin futures.

Meanwhile, Bakkt is also working to launch the first-ever consumer app for Starbucks in the first half of 2020, an initiative that also aims to accelerate crypto adoption. The ultimate goal is to have people use cryptocurrencies to purchase everyday items like coffee. Apart from settling purchases, Bakkt also aims to encourage people to track and transact other digital assets, not just bitcoin.

Bakkt achieves another milestone amidst Bitcoin’s struggles

Bitcoin is currently struggling at the moment as it has fallen to the $6,500 level after remaining at the $9,000 mark for a few weeks. Despite this, however, Bakkt has actually achieved another milestone on Nov. 22 after recording more than $20.3 million bitcoin trade volume on its platform, Cointelegraph reported.

The figure is 30% higher than the previous record, which was set on Nov. 8. This data clearly represents that there is still a strong interest in the crypto space as investors try to explore the options that this new asset class offers.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Moses
  • 2020.04.29 18:03:02
I am a cryptocurrency trader and i make over 200% daily, If you are interested,i can teach you how to trade and also help you achieve your goal in life with crypto i can turn
$4500 into $35000 in less then four weeks,now that bitcoin has low prices...please note that cryptocurrency trading is bitcoin unlike binary and Forex,bitcoin is traded for altcoins also you can reach to me if you are new to bitcoin and to give you more info and guideline on how to invest smartly, this is opportunity life time knocking on your door ???? inbox me for more me on WhatsApp +1(206)-742-5358 thank you to you all and God bless you ......
  • 0
  • ·
  • 0
  • Bitcoin (BTC) $9,234.41 (+0.45%)
  • Ethereum (ETH) $239.62 (+0.29%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $229.14 (-0.04%)
  • Bitcoin SV (BSV) $181.60 (+0.90%)
  • Bitcoin (BTC) $9,234.41 (+0.45%)
Feb 21, 2020 (Friday)
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
Brazil to launch new payment system in response to cryptocurrencies
Digital currency exchange Coinbase Pro lists Kyber Network token
Norwegian Air to soon start accepting crypto payments
Swedish central bank begins CBDC pilot with Accenture
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
Telecom companies complete cross-carrier mobile payments using blockchain
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
South Korean ICO project discontinued, to return $7.5M to token holders
Samsung maintains crypto support in soon-to-launch Galaxy S20
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
Coinbase becomes first crypto company to receive Visa principal membership
Dubai Economy and six banks launch KYC Blockchain Consortium
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.