Bakkt has started bitcoin testing futures

23.07.2019

According to the official Twitter dated July 22, 2019, the Bakkt Bitcoin futures platform has begun testing.

Bakkt's product is futures with a physical bitcoins, after which investors receive the asset itself, not its cash equivalent. For example, the result of buying one USD/BTC futures will be one Bitcoin to the client’s account. Bakkt futures can be purchased for fiat currencies: dollars, euros and pounds.

Other features of the platform:

  • all transactions within the platform are carried out off-chain and are recorded on the blockchain only when withdrawing funds to external wallets;
  • the platform does not support margin trading;
  • a guarantee fund will be launched along with the platform, designed to avoid a possible default of Bakkt.

According to Adam White, the chief operating officer of the project, the introduction of BTC futures will help to ensure more institutional participation in cryptocurrency markets.

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