Bakkt Gives Update On Bitcoin (BTC) Futures Contract, Unveils Custody Details

At last, the crypto space has been blessed with another update from Bakkt, the Bitcoin (BTC) initiative from the Intercontinental Exchange. On Monday morning, Adam White, the COO of Bakkt who hails from a Coinbase executive position, released an extensive Medium post about how his firm intends to store the BTC backing its proposed futures contract. Following a brief monologue about the importance of custody, which included terms like “the future of digital asset infrastructure,” “ironclad infrastructure and a security-first mindset,” and others that accentuated the importance of security, White explained the details.

First, he confirmed the news that Bakkt had filed an application to the New York Department of Financial Services, the state’s primary financial markets regulator that has historically been stringent yet somewhat amicable towards Bitcoin and other digital assets.

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