According to an unconfirmed source, the ICE’s (Intercontinental Exchange’s) Bakkt cryptocurrency platform is set to get the approval of the SEC for its launch. The platform’s plan to launch its physically-delivered Bitcoin futures product has been delayed since because of U.S. regulators.
However, an unconfirmed source told The Block on Thursday, Oct. 25, that the regulatory body may let Bakkt move forward with the launch.
Institutional Investors to Benefit Greatly From Bakkt’s Endeavor
Bakkt had initially planned to launch its futures by December 12. But the process has been delayed by US regulators. Bakkt seeks to build a “regulated ecosystem” that will make things easier for institutional investors who are looking to gain exposure in the cryptocurrency scene. If the SEC gives Bakkt’s project the green light, Bakkt will begin its Bitcoin Daily Futures Contract launch for clients beginning from the first week of November. This news is unconfirmed.
Chicago Trading Shop DV Trading to Use Bakkt’s Futures
The unnamed source also revealed to the publication that DV, Chicago trading shop, will use will trade Bakkt’s futures. The concerns about non-custodial options will ultimately detract the credibility of the industry. These have surfaced from virtual currency figures particularly, with crypto token proponent Andreas Antonopoulos, sounding a warning regarding the impact that the regulator’s approval of Bakkt’s Bitcoin exchange-traded funds would have in the future.
CBOE and CME Group initially launched non-physical Bitcoin futures in December 2017. However, poor returns along with market volatility and disputes over settlement dates, have sparked debates among cryptoanalysts.
Visa, Prepared to Go Crypto, Plus Crypto Report on Bitcoin (BTC) and XRP (XRP)
According to reports payment giant Visa is prepared to go into the crypto space. In an interview with CNBC’s Jim Cramer, the CEO of Visa, Al Kelly revealed that Visa is now prepared to implement digital currency if the need to do so arises.
According to the CEO, the payment giant is prepared to go in that direction and will move in that path. He said the company wants to stay in the middle, of every payment flow around the world no matter how it happens or whatever currency is behind the transaction. The CEO said if crypto goes on this path, the company has the flexibility to follow.
In other news, new data has found that Bitcoin (BTC) adoption has significantly risen in Canada. This conclusion is drawn from a report provided by the Bank of Canada and the Ontario Securities Commission. According to the report the number of Canadians who are Bitcoin (BTC) owners grew from 2.9% two years ago to 5% last year.
As for the XRP token, the network’s head of strategic accounts revealed to in a new interview with UK’s fintech outlet Bobsguide, that there’s little reason to collaborate the idea of XRP joining hands with international payment network Swift.
Although the popular XRP Tip Bot recently released an iOS and Android compatible app, the platform typically allows anyone to send their XRP tokens to users on Telegram, Twitter, and Discord.
Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.