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Recently, Kelly Loeffler, CEO of Bakkt,Announced on MediumAnnounced on Medium
, Bakkt completed the first round of financing of US$182.5 million. The investment institutions and partners participating in the first round of investment include Boston Consulting Group, CMT Digital, Eagle Seven, Galaxy Digital, Goldfinch Partners, Alan Howard, Horizons Ventures, Intercontinental Exchange, Microsoft Venture Capital sector, M12, Pantera Capital, PayU, Naspers' FinTech division, and Protocol Ventures.Among them, Naspers is the largest shareholder of Tencent South Africa Media, and Horizons Ventures is an investment institution under Li Ka-shing. BeforeVibe Medium Starbucks, which participated in this round of investment, was not among them, but Kelly Loeffler was in
said above,
Our work today is focused on driving institutional access to digital assets, as well as merchant and consumer use of digital assets, and we are working with major companies such as Starbucks to realize these visions as quickly as possible.Under the bear market, when many blockchain project parties do not have sufficient cash flow support, why can Bakkt get investment from many well-known institutions?
The main reason is that Bakkt is backed by Intercontinental Exchange and its emphasis on legality.Intercontinental Exchange is the parent company of the New York Stock Exchange NYSE,According to Fortune,
The encrypted digital asset platform Bakkt was launched by Intercontinental Exchange on August 4, 2018AnnounceAnnouncelaunched, the platform will leverage theMicrosoft cloud technology
On the issue of digital currency futures, Bakkt previously announced that it will launch physically delivered bitcoin futures, including US dollars, British pounds and euros. Specifically,For exampleFor exampleBuying a USD/BTC futures contract will mean that one bitcoin will be delivered to the customer's account every day. For daily futures contractsrelease date
, which was postponed from December 12, 2018 to January 24, 2019. Medium In terms of progress in the review of physically delivered bitcoin futures contracts, Kelly Loeffler
said above,
Bakkt pays more attention to compliance with regulations. Jeffrey Sprecher, founder and chairman of Intercontinental Exchange, onceexpress：
express
To combine regulated, connected infrastructure with institutional and consumer applications for digital assets, we hope to build confidence in this asset class on a global scale, just as we have previously brought transparency and trust to different the same as a regulated market.In the encryption industry, well-known traditional financial institutions have entered the market one after another. There have also been financial institutions that have added to the cryptocurrency industry before.Nasdaq, Fidelity and others have invested $27.5 million in crypto exchange ErisX.
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Image source: twitterRegarding the entry of large financial institutions, Changpeng Zhao tweetedcomment says
"They're not stupid".
Bitcoin Physically Settled Futures Contracts Are Coming, Will ETFs Be Far Away?
