Bakkt delays platform launch till January

Intercontinental Exchange’s (ICE) Bakkt has postponed the launch of its Bitcoin futures trading platform from December 12th, 2018 to  January 24th, 2019. The news was originally published on the company’s official blog which stated:

“The new listing timeframe will provide additional time for the customer and clearing member onboarding prior to the start of trading and warehousing of the new contract.”

The CEO of Bakkt, Kelly Loeffler, elaborated further on the Bakkt official Medium account about the reasons for the delay. She said,

“As is often true with product launches, there are new processes, risks and mitigants to test and re-test, and in the case of crypto, a new asset class to which these resources are being applied. So, it makes sense to adjust our timeline as we work with the industry toward launch.”

Loeffler also indicated that the trading would not be limited to just bitcoin futures and more offerings could be in the pipeline.

Additional information regarding the futures contract will be revealed prior to the launch date. It is also noteworthy that the platform launch is subject to regulatory approvals, Until now, we have seen that regulation is a hard nut to crack for most businesses and Bakkt is no different. Let’s wait and watch to see the stance US regulators take with ICE’s new platform!