NYSE operator has announced the launching of a new global digital assets platform in November 2018. International Exchange (ICE), the operator of 23 leading global exchanges including the New York Stock Exchange (NYSE), has announced plans to create a Microsoft cloud-powered “open and regulated, global ecosystem for digital assets,” according to a press release published August 3, 2018. Apparently the owner of the NYSE has partnered with Starbucks to launch this new platform.
The global network will be known as Bakkt and aims to build an open, seamless global network to enable you (the investor) to buy, sell, store and spend digital assets simply, safely and efficiently.
“Backed by Intercontinental Exchange’s proven financial market infrastructure and technology, Bakkt’s secure global platform will connect investors, merchants and consumers, making it easier, faster and more cost-effective to access, trade and use digital assets. Bakkt’s open-source, neutral platform will be designed to meet applicable regulatory requirements, and to support innovation around digital assets and blockchain applications.”
The first physical delivered Bitcoin Futures will be a offering one day futures for Bitcoin (BTC) and Bitcoin will be trading against fiat currencies. This will provide a platform for institutional investors that want a secure and easy way of getting into the cryptocurrency market.
This will not be the first bitcoin futures contract to be launched as the first Bitcoin future contract, offered by CBOE, has already traded from December 10, 2017 to January 24, 2018 and CME also offered a bitcoin contract that expired on January 26, 2018. However, this will be the first physically-delivered BTC futures contract to launch.
How do you think this will affect the price of bitcoin, negative or positive? please leave your comments below.
Thanks for reading! you can find more posts from me at Cryptoporridge.com.