ICE plans to spend more than $ 20 million to create Bakkt

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ICE plans to spend more than $ 20 million to create Bakkt

Intercontinental Exchange (ICE) network of exchanges and clearing houses for financial and commodity markets intends to invest over $ 20 million in Bakkt platform.

The company’s chief financial officer, Scott Hill, said that in terms of expenses for 2019, $ 20-25 million has been allocated to create a division for storing and trading bitcoin futures. ICE CEO Jeff Sprecher says Bakkt is not a typical business line. and for the largest operator of the derivatives market is something like a flight to the moon.

Despite this, the platform has already attracted the interest of major players such as Microsoft and Starbucks, and at the end of 2018 in the first round of funding raised $ 182.5 million for development. However, the startup does not plan to stop there and intends to raise additional funds in the future. At the moment, Bakkt is subordinate to the parent company, but the leaders do not exclude the possibility that in the future it will be able to work in isolation.

ICE plans to spend more than $ 20 million to create Bakkt

ICE executives declined to answer a question regarding the launch date of the platform, saying only that users will be able to see the finished product later this year. The launch date had already been postponed several times, and then the situation was aggravated US government shutdown as Bakkt is still awaiting regulatory approval.

Scammers decided to take advantage of such a long delay. They recently set up a fake website and sent out emails to potential investors inviting them to participate in a new round of platform funding and send bitcoins to the specified address..

Switzerland’s largest stock exchange SIX also announced plans to launch its blockchain-based trading platform in the second half of 2019..

text: Ivan Malichenko, photo: ajc, s.yimg