The owner of the New York Stock Exchange wants to make Bitcoin mainstream. What counts as mainstream? Traditional investors and financial institutions. If you can get the old money to feel comfortable trading new money, you can bring a huge new wave of investors to the cryptocurrency game—and maybe even stabilize it. That’s the promise of Bakkt, which hopes to become the on-ramp of the institutional investor.
We learn more about it below.
What is Bakkt?
At its core, Bakkt is a custody service that stores Bitcoin in a secure form, known as cold storage. It looks after large amounts of Bitcoin on behalf of institutional investors.
Bakkt is owned by Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE). ICE then offers a Bakkt-branded Bitcoin futures product. This is where traders are able to bet on the rising or falling price of Bitcoin. All the Bitcoin used to back the trades is stored in Bakkt’s secure custody.
Bakkt is owned by the Intercontinen
Źródło: https://decrypt.co/5692/bakkt
