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Following the launch of Bakkt's Bitcoin Futures (BTC) futures, the company listed three reasons why this event is a milestone for the industry.
In a statement issued on September 23, Kelly Loeffler, CEO of Bakkt, said the successful launch of Bakkt Bitcoin futures is the first time that physically regulated and US regulated bitcoin futures are available.
Loeffler pointed out that the mere fact that such a product exists now can matter more than the precise details of the initiative.
Loeffler: Regulated markets accelerate the adoption of digital assets
Emphasizing that the launch of this service is an important step in the establishment of a trusted infrastructure for digital assets, the general manager of Bakkt has defined the company's mission: "to expand access to the global economy by building trust and unlocking the value of digital assets. "
Loeffler also listed three reasons why the product is important. These included:
- Reliable and regulated infrastructure;
- Adoption of new financial and technological instruments based on digital currency;
- The rapid extension of innovative methods of management and digital value transfer.
"With the operations, cybersecurity and controls, as well as the end-to-end regulation required by investors and consumers, trust in the use of digital money – not only to invest, but also to perform transactions – will increase, "explained the CEO.
Loeffler continued:
"These are the concepts on which we build Bakkt. We start with the basics: building trust through regulation and secure custody, and deploying transparent and regulated products to facilitate adoption. "
As noted, the Bitcoin futures contracts physically delivered by Bakkt were delivered to trading on the Intercontinental Exchange (ICE) on September 22 at 8:00 pm Eastern Time (11:00 pm). After the launch, volume begins to rise, with some traders comparing the launch of the platform to Bitcoin futures launched by the Chicago Mercantile Exchange in December 2017.
At the time of the press, 29 bitcoins were traded on the ICE's Bakkt Bitcoin futures platform, with the last trading price recorded at $ 9,992.
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