Intercontinental Exchange (ICE) has actually revealed on Twitter that it will have the initial offering of physical Bitcoin futures through its Bakkt cryptocurrency system. The Twitter statement was made on 25 September.
The bitcoin future offerings will be made versus 3 different fiat money particularly the USD, GBP, and the Euro. The main objective of this offering is to send out some exposure to the institutional investors in the cryptocurrency stream with the “regulated community” Bakkt.
“Our initial agreements will be literally provided Bitcoin futures contracts versus fiat money, consisting of USD, GBP, and EUR. For example, getting one USD/BTC futures contract will cause the daily shipment of one Bitcoin right into the consumer’s account,” checked out the tweet.
Our first contracts will be physically delivered Bitcoin futures contracts versus fiat currencies, including USD, GBP and EUR. For example, buying one USD/BTC futures contract will result in daily delivery of one Bitcoin into the customer’s account.
— Bakkt (@Bakkt) September 25, 2018
As reported earlier by BC Emphasis, ‘Bakkt’s strategy’ of Intercontinental Exchange [ICE] will not support margin trading for Bitcoin [BTC] agreement. Bakkt includes the forthcoming facility of brand-new Bitcoin [BTC] market under the sanctuary of regulations and standards.
“Especially, with our service, the buying and selling of [B] itcoin is fully collateralized or pre-funded. Therefore, our brand-new daily bitcoin agreement will not be traded on margin, usage leverage or serve to produce a paper insurance claim on an actual possession,” said Kelly Loeffler, CEO, Bakkt.
According to her declaration, only when margin trading is forbidden stability of the marketplace be much better maintained and also “trusted cost development” promoted. These two important factors are essential to “progressing the assurance of electronic money.” This affirmation by Loeffler is a verification of the previous news of ICE. The whole of the crypto economy has invited the real intention of the project.
A Business Correspondent at Kranbitcoin, Priya Raja has more than three years of professional experience in journalism. She has worked as an Assistant Editor and Content Writer prior to this, and has done Technical Writing and Business Writing. Outside the professional realm, she loves blogging, painting, crafts, and dancing. Basically, anything CREATIVE!