Bakkt Launches Its Custody Solution Ahead of Bitcoin Futures Rollout
There will be no more delays.
Bakkt, the ICE-backed exchange, has delivered on its promise to launch its own custodian solution. The new platform, which is dubbed “Bakkt Warehouse,” has officially allowed its customers to make despite and withdrawals to get used to the process prior to the launch of its Bitcoin futures.
Today our Warehouse opens for customer bitcoin deposits and withdrawals as we prepare for the Bakkt Bitcoin Daily & Monthly Futures, launching September 23
The availability of physical delivery brings more flexibility in managing bitcoin exposure
— Bakkt (@Bakkt) September 6, 2019
The company’s custody platform is handled by Bakkt Trust Co., which received the green light from the New York State Department of Financial Services (NYSDFS) back in August.
As reported by U.Today, Bakkt’s much-anticipated Bitcoin futures will go live on Sept. 23. The event is supposed to be a major catalyst for the top coin, which has witnessed an incredible rally in 2019.
Unlike the product offered by CME Group, these futures will be physically-settled, which means that the company’s customers will be able to get their payouts in BTC once their contracts expire.