Bakkt has announced that it will be launching its bitcoin futures trading platform in September 2019.
In a blog post published on August 16, 2019, the cryptocurrency trading company announced that its long-anticipated futures product will be going live on September 23, 2019, following approval to create a qualified custodian trust company from the New York State Department of Financial Services (NYSDFS)
The anticipation for Bakkt’s physically delivered futures has been high for quite some time. The company initially announced that it would launch the platform in August 2018, but it had to delay the launch several times due to issues with regulators.
It has had problems satisfying the requirements of the U.S. Commodity Futures Trading Commission (CFTC), though testing on the platform started back in July 2019.
According to the announcement, the company has recently hosted several events in Chicago and New York City, two strategic markets for futures trading in the U.S. It has also had several meetings with members of the CTFC and the U.S. Securities and Exchange Commission (SEC).
Jimmy has been following the development of blockchain for several years, and he is optimistic about its potential to democratize the financial system.