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Bakkt is Drawing Attention From Other Companies Looking to Build on Bitcoin

Bakkt, the platform backed by the Intercontinental Exchange (ICE) that recently launched Bitcoin futures, has come out and said that a variety of different companies are speaking to them about future development.

More specifically, the CEO of ICE, Jeffrey Sprecher, had said that “all kinds of financial institutions” are talking to Bakkt. Of course, all of these calls are relevant to Bitcoin and alternative forms of investing in it, according to The Block.

Sprecher revealed this information during a quarter 3 earnings call and stated:

“All [kinds] of financial institutions are talking to us and looking at this and trying to figure out where this fits and what the global regulators are going to think about this and so on and so forth. So there’s a tremendous amount of dialogue around it.”

It makes sense, considering that Bakkt is the only platform that offers physically delivered Bitcoin futures, meaning that they settle their contracts in actual Bitcoin unlike competitors like the CME Group.

With Bitcoin being this early on, and especially only being used by mainstream companies within the past couple of years, companies will want to get in on the asset as soon as they can. That way, if Bitcoin becomes as successful as fiat currencies, these companies will be in ahead of time and be able to cash out on their services offered.

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Max Moeller

Cryptocurrency and games writer. Looking to the future by studying how these two industries can blend. LinkedIn: https://www.linkedin.com/in/maxwell-moeller-912044b4/