Intercontinental Exchange (ICE) is a firm located in Atlanta and owns the new York stock exchange announced Friday that it plans to launch a platform for digital asset and a futures product based on bitcoin.
The platform will be called Bakck and will use the Microsoft cloud to create “an open and regulated global ecosystem of digital assets”, said in a press release. In fact, it will allow consumers and institutions to trade, store and consume digital assets.
It is noteworthy that ICE also plans to offer a one-day “physical” contract for bitcoin-futures – this means that bitcoin will actually be given a certain number, unlike other proposals, which are designed for operations with cash. It is expected that the product will start working in November, and while waiting for approval and approval from the Commission on commodity futures trading (CFTC) of the USA.
The company said that large companies, including BCG, Microsoft, and Starbucks, will provide expertise on risk management and consumer experience for the project.
Starbucks will also start working on creating a “practical, reliable and regulated” apps for consumers to convert digital assets into U.S. dollars for subsequent use in retail outlets of the company.
Jeffrey Sprecher, founder and Chairman of ICE, commented on the launch of a new product:
When you create a regulated, associated infrastructure together with institutional and consumer applications for digital assets, we strive to strengthen the credibility of the asset class on a global scale.
CEO Bakkt, Kelly Leffler stated that:
Bakkt is intended to serve as a scalable platform for institutional, commercial and consumer participation in digital assets by improving the efficiency, security and usefulness.
According to a press release, the project invested: M12, the venture capital division to Microsoft, Galaxy Digital, Horizons Ventures, Alan Howard and Pantera Capital.