Altcoin News: Bakkt Opens Bitcoin Storage Service for Customers

August 28, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

According to a message published yesterday, from September 6, the Bakkt platform will offer its customers safe storage of Bitcoins.

The service will open in preparation for the launch of Bitcoin futures trading, scheduled for September 23. Information about this appeared on the official Bakkt Twitter.

The start of the main trading of daily and monthly deliverable bitcoin futures is scheduled to begin on September 23.

Earlier in August, Bakkt CEO Kelly Loeffler announced that the US Commodity Futures Trading Commission (CFTC) had issued all the necessary licenses as the company went through a self-certification process. Accordingly, nothing can prevent the full launch of the platform, except for unforeseen technical difficulties.

Among other things, institutional investors will be able to store their Bitcoins directly on the site itself, since the Bakkt Trust Company LLC received a trust license from the New York State Financial Services Authority (NYDFS).

Many analysts suggest that the launch of Bakkt will positively affect the cryptocurrency industry, because the platform offers the opportunity to trade deliverable futures for the first cryptocurrency. Unlike the Chicago Mercantile Exchange (CME) futures, settlement is made in Bitcoins, not dollars. In other words, this is a direct opportunity to legally buy Bitcoin for institutional investors.

Author: Marko Vidrih