Intercontinental Exchange Formed a New Platform Focused on Cryptos
A leading clearinghouse and operator of global exchanges, Intercontinental Exchange (NYSE: ICE), has recently made an announcement that it will be creating a new company, which it will be naming, Bakkt.
Bakkt to Make use of Microsoft’s Technology
According to a report, Bakkt will be making use of Microsoft’s cloud solutions towards creating a well regulated international platform for cryptocurrencies. The newly created company will make it possible for both individuals and institutional clients to store, sell, buys as well as spend cryptocurrencies easily.
One thing blockchain technology is known for is its transparent nature, and that it is tamper proof. With the introduction of Bakkt by Intercontinental Exchange, trust and efficiency will be brought into the cryptocurrency market. The new platform is looking forward to developing open technology to connect the existing market and merchant infrastructure to the blockchain.
The Founder, Chairman, and CEO of Intercontinental Exchange, Jeffrey C. Sprecher, made a statement in relation to the new platform recently.
He stated that: “In bringing regulated, connected infrastructure together with institutional and consumer applications for digital assets, we aim to build confidence in the asset class on a global scale, consistent with our track record of bringing transparency and trust to previously unregulated markets.
A report has also shown that the financial community is expecting the Bakkt ecosystem to include federally regulated markets and warehousing along with merchant and consumer applications.
It has also been made known that the first use case of this platform’s ecosystem will be to trade and convert BTC against FIATs. The success of this while led to the inclusion of other cryptocurrencies.
Bakkt has a CEO
Kelly Loeffler, was chosen as the CEO of Bakkt, and he made a statement saying that:
“Bakkt is designed to serve as a scalable on-ramp for institutional, merchant and consumer participation in digital assets by promoting greater efficiency, security, and utility,”
He further said that:
“We are collaborating to build an open platform that helps unlock the transformative potential of digital assets across global markets and commerce.”
