CEO of Intercontinental Exchange (ICE) Jeff Sprecher (Jeff Sprecher) expects cryptocurrency platform Bakkt will be launched later this year.
The head of the operator of the new York stock exchange have made their comments during a teleconference on financial results of the year 2018. According to Sprecher, the company spent over a billion dollars on strategic initiatives, including a platform of digital assets, which he called a “rate on steep rise.”
“So it’s something like betting on a steep rise, and it is organized in a manner that is very different from the usual way of doing business ICE. They work well on the creation of infrastructure, which I think you’ll see later this year,” said Jeff Sprecher.
During the conference, ICE CFO Scott hill (Scott Hill) spoke about the expected costs, which the company plans to carry on running Bakkt during the year.
“And finally, our investment in Bakkt will generate 20 to 25 million dollars of costs based on the planned volume of the first quarter. We will keep you informed on the progress with Bakkt and the level of investments during the year,” said hill.
We will remind, earlier it was reported that Bakkt raised $182,5 million of 12 business partners in the first funding round. Originally the launch Bakkt was scheduled for mid-December, and in November was named the new date is 24 January 2019. The operator platform at the end of January revealed the specifications for its first product – a bitcoin futures (Bakkt BTC (USD) Daily Future).