Operator of the New York Stock Exchange (NYSE)- Intercontinental Exchange (ICE), is working on the Bakkt ecosystem that will include federal-regulated solutions for exchanging and storing cryptocurrencies and applications for sellers and clients, as tweeted by the NYSE.
Such big names as Microsoft, Starbucks and BCG have teamed up for the project. It is noted that bitcoin, as the most liquid cryptocurrency, will be the first in the listing of the new platform and will be traded in pairs with fiat currencies.
The presentation of Bakkt is scheduled for November 2018, followed by the US Commodity Futures Trading Commission (CFTC) approval of the project.
WHY IS IT IMPORTANT?
1. The platform will allow clients to buy, sell and spend digital assets. As part of the Bakkt’s initial offering, in November 2018 there will be a one-day of tangible Bitcoin contract delivery, along with a physical warehousing planned by ICE’s futures exchange and clearing house.
2. Starbucks will play an essential role in creating hands-on, regulated and credible applications, through which customers can exchange their cryptocurrency into the U.S. dollars and pay with them at Starbucks.