Bakkt platform launch will take place in Q3 of this year

According to the publication The Block, citing its own sources, the launch of the platform for institutional investors Bakkt will take place in the 3rd quarter of this year.

The platform has not yet received the approval of the New York financial regulator to launch the Bakkt Warehouse warehouse, which will allow Bakkt to operate as a trust company. In addition, Bakkt Warehouse will act as a qualified custodian, which is necessary for trading in Bitcoin futures with physical delivery.

“Futures does not belong to the cryptocurrency storehouse, but relies on it,” said one of the company’s top managers, who wished to remain anonymous.

Industry experts also fear that the guarantee fund created by Bakkt, which should cover losses, is not large enough for such a large platform – its size is only $ 35 million. It is expected that the volume of open positions will reach $ 400 million.

“This is not a normal practice for clearing companies,” said Ricky Li, co-founder of Altonomy trading company.

However, apparently, the leadership of Bakkt is aware that the size of the fund is insufficient, so that it will gradually increase after the launch of the platform. Lee noted that despite some flaws, the launch plan is good enough to attract traders, including his company.

Recall that Bakkt recently announced the start of testing bitcoin futures.