Cryptocurrency platform Bakkt is about to be launched this September.
According to Bakkt CEO, Kelly Loeffler, the platform will debut on September 23.
Loeffler claims Bakkt's contracts have already received the green light from the CFTC through the self-certification process and user acceptance testing has begun.
"With approval by the New York State Department of Financial Services to create Bakkt Trust Company, a qualified custodian, the Bakkt Warehouse will custody bitcoin for physically delivered futures," she added.
Bakkt CEO also highlights that bitcoin futures contracts will not rely upon unregulated spot markets for settlement prices, thus serving "as a transparent price discovery mechanism for the benchmark price for bitcoin."