Bakkt CEO Announces Adam White As Team Member
Kelly Loeffler, the CEO of Bakkt, a cryptocurrency exchange that will be launched by the Intercontinental Exchange (ICE), has recently announced on the blog of the company that Adam White will be acting as the new Chief Operating Officer.
The company, which will be launched in November, will hire White, the employee #5 of Coinbase, the current largest crypto company in the U. S. According to Loeffler, White will be an excellent fit with the culture of the company and will help to solve many problems with his leadership. Hiring him is part of a larger effort to optimize the team behind Bakkt as the exchange is about to be launched.
Kelly Loeffler has also talked about the launch of the platform and all the work to prepare for it. The exchange will have clearing house boards and a house risk committee which have approved all the transaction rules in the exchange. The company will be in direct touch with the CFTC to review these policies.
Another important statement is that the company will be taking a transparent approach and will engage with the financial industry in a professional manner. The market model will be focused on diminishing risks and while creating opportunities and will have tools for institutions to help their clients profit more.
The regulation of the company would require the full prefunding of Bitcoin trades, allowing clients to transact directly with the warehouse and a separate fund for Bitcoin, which would be fully backed by the company and would help to ensure that non-defaulting clearing member capital is not risked.
Finally, the company will also be focused on getting regulatory clarity as this is one of the worst aspects of the crypto market tight now and is might be the one that scares the institutional investors the most as they are afraid of how the governments are going to regulate these markets and how this can effect their investments.
Bakkt is a new platform created by the Intercontinental Exchange (ICE), the group that owns the New York Stock Exchange (NYSE), in a partnership with Starbucks and Microsoft. The company will be the first try of the financial giant with Bitcoin and it will be launched in November 2018.