- Bitcoin futures will become available for users on June 22.
- The platform will provide a variety of features to the institutional investors.
The cryptocurrency trading platform Bakkt announced that on June 22 it would initiate user acceptance testing for its bitcoin futures.
According to Bakkt’s COO, Adam White, the platform will attract institutional investors and set new standards for the cryptocurrency market.
He also mentioned that unreliable price-setting mechanisms and high volatility slows down the process of cryptocurrency mass adoption.
Speaking on the benefits of Bakkt’s platform, he said:
“Along with these problem-solving solutions that are new to digital asset markets, Bakkt also brings all the other features that institutions would expect in a versatile and broadly accessible market, including: block trades; a fee holiday through the end of the year to encourage trading; market maker incentive programs to encourage liquid markets; and integrations with ISVs and regulated brokerage platforms."
Bakkt will offer two futures contracts with daily and monthly settlements, while the risk-management and the collateral mechanism will comply with the standards of the traditional derivatives market.
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