Company Intercontinental Exchange (ICE) has confirmed that the first product of its platform Bakkt will be futures with physical delivery of bitcoins. ICE also manages the new York stock exchange (NYSE), announced on 25 September in new Twitter platform.
Our first contracts will be physically delivered futures contracts of Bitcoin versus fiat currencies, including USD, GBP and EUR. For example, buying one USD/BTC futures contract will result in the daily delivery of one Bitcoin into the customer’s account.
— Bakkt (@Bakkt) September 25, 2018
Cryptopleura Bakkt that ICE calls a “controlled ecosystem” for institutional investors wishing to enter the cryptocurrency market, will offer futures, at least for the three major Fiat currencies: us dollar, British pound and Euro.
“Our first contracts will be futures with physical delivery of bitcoins that can be purchased for Fiat currency, including USD, GBP and EUR – wrote the firm on Twitter. For example, the result of the purchase of one futures USD/BTC will be transfer to the account of the client of one bitcoin in one day”.
This announcement was confirmation of the August statements Bakkt about what their platform will offer margin trading to buy bitcoins. According to the company, Bakkt does not want to “serve in the creation of paper rights real asset.”
Last week a group of developers and representatives of traditional Finance sent a letter to the Commission on securities and exchange Commission (SEC) to control the approach Bakkt to work with cryptocurrencies, noting that they have a number of characteristics that distinguish them from other financial instruments that must be considered in order not to harm the new asset class and with the maximum benefit to take advantage of it.
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