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Bakkt announces September 23. Launch of futures and storage platform in the United States

Bakkt has announced the launch of its long-awaited daily and monthly futures platform in the US in a blog post on August 16. After receiving approval from the required regulators, the launch is scheduled for September 23.

Bakk's physically delivered futures have been subject to much anticipation, with the company first announcing its launch in August 2018 before being subject to repeated delays in compliance issues. Satisfying the CommTCity Futures Trading Commission (CFTC) is particularly challenging. The company began testing seriously on July 22, as Cointelegraph reported at the time.

According to the announcement, Bakkt has hosted a number of events in New York and Chicago ̵[ads1]1; cities that are critical to the US futures market. They have also sat down with regulators from the CFTC as well as the Securities and Exchange Commission (SEC).

Bakkt will work with Intercontinental Exchange Futures US and Intercontinental Exchange Clear US to provide futures contracts.

Institutional services and storage have been a growing crypto market, with major US stock exchange Coinbase announcing the addition of Xapo's institutions in its storage operations last night. Following the announcement, Coinbase CEO Brian Armstrong commented on the large increase in institutional customers for crypto services, saying:

“Whether or not institutions should use crypto was an open question 12 months ago. I think it's safe to say that we now know the answer. We see $ 200-400 million a week in new crypto deposits from institutional customers. "

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