Intercontinental Exchange’s upcoming cryptocurrency trading platform, Bakkt, has raised $182.5 million from a dozen investors. The funds will help develop an institutional-grade regulated crypto exchange, clearing and warehousing services for physical delivery and storage. The company now expects to provide an updated timeline on launching bitcoin daily futures contracts in early 2019.
Also Read: Israeli Exchange to Launch Crypto Payments API for Businesses
“I am pleased to confirm that we have completed our first round of funding of $182.5 million from 12 partners and investors who, like us, believe in the future of digital assets,” stated Bakkt CEO Kelly Loeffle. “Our work today is centered on driving institutional access for digital assets, along with merchant and consumer uses, and we’re already expanding on this vision, collaborating with great companies like Starbucks in these efforts.”
“At an industry level, regulatory approval for physically delivered and warehoused bitcoin will establish and amplify the voice of U.S. authorities as the digital asset market evolves globally. We have filed our applications and the timing for approval is now based on the regulatory review process,” explained Loeffler. “Clearing firms and customers have continued to join us as we work toward CFTC approval. We made great progress in December, and we’ll continue to onboard customers as we await the ‘green light.’”
Does this news show that Wall Street is still eager to invest in crypto assets? Share your thoughts in the comments section below.
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