The parent corporation of the NYSE, Intercontinental Exchange Inc. got permission which has opened the gate to its Bakkt system and lets its investors obtain derivatives that are being paid out with BTC. This is happening for the first time.
On July 16 The New York State Department of Financial Services gave a charter to Bakkt Trust Co. to store charge of customers’ tokens. The futures have previously been approved by the US Commodity Futures Trading Commission. The contracts are going to be suggested from September 23.
Bakkt’s leading executive officer, Kelly Loeffler told that they are sure that the availability of a benchmark that can be referenced all around the world is going to bring conviction in the actual price of BTC. She mentioned that the corporation believes this is an essential step in the trust improvement process.
Bakkt passed a hard way before getting approval. The company faced delays justified by scepticism from CFTC official about how the coins of customers are going to be stored and what methods of protection are going to be applied. Finally, the corporation got what it wanted.
The target of the corporation is to become a backbone for the infrastructure of digital payments beginning from 2020.