Bitcoin Futures Market Bakkt Makes Its First Acquisition

Bakkt may not be able to launch its planned bitcoin futures exchange this month as planned, but that isn’t stopping the company from developing its projects.

CEO Kelly Loeffler announced Monday that Bakkt was acquiring “certain assets” belonging to Rosenthal Collins Group (RCG), an independent futures commission merchant. RCG had previously announced it was selling its customer accounts and brokerage business to British firm Marex Spectron.

The acquisition will help Bakkt improve its risk management and treasury operations, Loeffler wrote, adding that the deal will also help improve Bakkt’s anti-money laundering/know-your-customer operations.

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