Bakkt To Offer Warehouse Service For Secure Storage Of Bitcoin On September 6 Ahead of Futures Launch
Before the launch of physically delivered Bitcoin daily and monthly futures on September 23, Bakkt has announced the official date, September 6, when Warehouse will begin to offer secure storage of customer Bitcoin.
These Bitcoin futures contracts will enable physical delivery of bitcoin with “end-to-end regulated markets and custody,” announced Bakkt, which is all set to launch its digital asset trading platform.
Recently, Bakkt CEO, Kelly Loeffler shared that they have received the green light from the CFTC to launch custody and physically-delivered bitcoin futures contracts in partnership with ICE Futures U.S. and ICE Clear US.
On Sept 6, our Warehouse will begin offering secure storage of customer bitcoin to prepare for the launch of Bakkt Bitcoin Daily & Monthly Futures when they launch on Sept 23
These contracts will enable physical delivery of bitcoin with end-to-end regulated markets and custody
— Bakkt (@Bakkt) August 28, 2019
It has already obtained approval by the New New York State Department of Financial Services to create a qualified custodian, Bakkt Trust Company. The Bakkt warehouse will custody bitcoin (BTC) for physically delivered futures.
This Loeffller said in the announcement, will offer its customers “unprecedented regulatory clarity and security,” alongside a regulated and globally accessible exchange.
The Bakkt Warehouse, part of Bakkt Trust Company, is built with cyber and physical security participations that support NYSE and other most actively traded markets. Additionally, it is protected by $125 million in insurance.