Bakkt paving the way for institutional investors pouring Bitcoin this summer
Bakkt’s long-awaited platform looks like it’s finally ready to launch in July. Those behind the project and many in the broader space of cryptographic assets hope that the institutional-level offer will encourage investors with the deepest pockets to enter the Bitcoin market.
Bakkt plans to attract the richest class of investors by providing many of the same characteristics that financial institutions are used to. Among other things, these include the discovery of regulated prices, custody and the strict application of existing financial regulations.
Bakkt will start testing its regulated Bitcoin products this July
Bakkt has been a hot topic in Bitcoin and cryptographic asset talks in general since it was first announced in 2018. The company is owned by Intercontinental Exchange (ICE) and the fact that they also own the New York Stock Exchange. It has many people understandably excited about its launch.
The Bakkt platform has already been delayed several times. However, given the scope of what it seeks to achieve and the fact that it will be the first Bitcoin service of its kind on Earth, it is not surprising that those who support it want to be sure that they have overcome all technical and regulatory obstacles before launch in the world.
In a press release issued today by the company through its Medium account, Bakkt finally announced the official start of the platform’s official tests. Something entertaining, the date chosen for the launch is only two days after the 50th anniversary of Apollo 11 on July 22 of this year, or the day that man went to the Moon.
At the launch, Bakkt highlights the importance of the date:
“Bakkt may be a form of the moon’s demise, but it is based on a ground-based effort to support the future of finance and the adoption of blockchain technology.” In his own way, Bakkt’s efforts to help institutions launch Surely this market is the right thing for the future. “
As explicitly mentioned, Bakkt expects that his efforts to create a place of regulated commerce, a custody solution and a price discovery method will help make the Bitcoin market more attractive to an institutional class of investors.
According to the announcement, the launch should help create a “new standard for accessing the cryptography markets.” The firm believes that currently the market can not reach its maximum potential due to regulatory uncertainty and limitations in the existing market infrastructure.
By bringing a fully regulated product to market, Bakkt expects to increase trading volumes, liquidity and transparency of prices throughout the market. This would make the market more in line with established markets, such as crude oil.
The release also describes how Bakkt intends to bring these potential benefits to the cryptography and bitcoin asset market. Among other measures aimed at attracting traditional money managers and institutions, there is a great focus on true price discovery, compliance with KYC and AML regulations, as well as full external audit of their products.
Many digital currency analysts have previously stated that they also feel that the current state of the markets is holding back Bitcoin. Bakkt seems to be doing the right steps to address this and, in doing so, could attract those with the deepest pockets to the market in a way they would not have been willing to do before.
The cryptocurrencies have the opportunity to take a position as a form of exchange of value, the blockchain-bitcoin technology may be the fairest option, the investors are going to try this new platform to start the tests, after the satisfaction it can be a takeoff in Bitcoin prices, this July brings new opportunities for cryptocurrencies. It is waiting for new announcements.
Disclaimer: InfoCoin is not affiliated with any of the companies mentioned in this article and is not responsible for their products and / or services. This press release is for informational purposes information does not constitute investment advice or an offer to invest.