Good news for the world of cryptocurrency (BITCOIN) will make the stock market of new york launch the cryptocurrency market.

bidbots (55)in #news • 6 years ago

Hello friends yesterday I wanted to update the world of cryptocurrency and I find this excellent news that the stock exchange of new york will launch a bitcoin market. This news will make the bitcoin increase in value, let's see an analysis of the news.

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Intercontinental Exchange (ICE), owner of the New York Stock Exchange (NYSE), announced that it will list the physically established Bitcoin futures contracts and form a new company whose mission is to make Bitcoin a primary financial asset.

ICE made the innovative announcement yesterday , revealing that the new platform, Bakkt, has been developed in association with a variety of big names, including Microsoft, Starbucks and BCG.

Bakkt will integrate with the US futures exchange and the ICE information exchange center to list a one-day Bitcoin futures product physically established, with physical storage managed internally by ICE. This product will be launched in November of this year, depending on the regulatory approval.

Because ICE - one of the most important names in finance - will serve as custodian of all the assets stored on the Bakkt platform, institutional investors such as pensions, equity funds and insurance companies may hesitate less to place a bet on This growing class of assets. As reported by CCN, analysts and others who knew the landscape of institutional investment constantly pointed to the lack of a respected regulated custodian as the main reason why institutions were moving away from bitcoin.

"Bakkt is designed to serve as a scalable access ramp for institutional, commercial and consumer participation in digital assets by promoting greater efficiency, security and utility," said Kelly Loeffler, CEO of Bakkt. "We are collaborating to build an open platform that helps unleash the transformation potential of digital assets in markets and global commerce."

However, far from being a Bitcoin futures exchange, Bakkt, whose other investors include Microsoft's M12 subsidiary, Fortress, Susquehanna, Pantera Capital and Galaxy Digital, aims to be a complete platform that helps digital assets evolve towards a conventional financial asset.

"By bringing regulated and connected infrastructure together with institutional and consumer applications for digital assets, we aim to build confidence in the asset class on a global scale, in line with our track record of providing transparency and confidence to previously unregulated markets," said Jeffrey C. Sprecher, founder, president and CEO of Intercontinental Exchange.

In fact, Sprecher and Loeffler traced their ambitious plans for Bakkt in an interview with Fortune, revealing that the platform will have its own "omnibus ledger" that operates on the Bitcoin block chain, similar to Lightning Network (LN).

They said that they foresee that, with the help of ICE, Bitcoin could become a good faith currency that could be the asset of choice for international payments.

Once the assets of a company are guarded by ICE, they can carry out frictionless transactions with other institutions and companies that are connected to the Bakkt ledger.

"Bitcoin would greatly simplify the movement of global money," Sprecher told the publication. "It has the potential to become the world's first currency."

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To that end, Bakkt is exploring how to increase Bitcoin's utility as a payment instrument. The announcement states that Starbucks will take an active role in providing consumers with the ability to seamlessly convert their stocks into dollars so they can use them to pay for items at Starbucks branches.

"As a leading retailer, Starbucks will play a critical role in developing practical, reliable and regulated applications for consumers to convert their digital assets into US dollars for use at Starbucks," said Maria Smith, Vice President of Partnerships and Payments, Starbucks. "As a leader in Mobile Pay for our more than 15 million Starbucks Rewards members, Starbucks is committed to innovation to expand payment options for our customers."

But while ICE believes it may be the one that brings Bitcoin into the mainstream, it also says that this reality probably does not resemble the cryptanarquista view hosted by many of the early adopters of cryptocurrencies.

"Bitcoin can not survive as a dishonest idea," Sprecher said in the Fortune profile. "To evolve, cryptocurrencies need to be executed in the established infrastructure. They need the trust and rules that have been incorporated into our financial system for many years. They need the kind of trust that the Big Board represents. "Bitcoin can not survive as a dishonest idea," Sprecher said in the Fortune profile. "To evolve, cryptocurrencies need to be executed in the established infrastructure. They need the trust and rules that have been incorporated into our financial system for many years. They need the kind of trust that the Big Board represents. "

The price of Bitcoin experienced a moderate rebound in the hours after the announcement, rising to USD $ 7,515 after having fallen to USD $ 7,282 earlier in the day. Also, at this moment, the word Bitcoin is a trending topic on Twitter in the US.The price of Bitcoin experienced a moderate rebound in the hours after the announcement, rising to USD $ 7,515 after having fallen to USD $ 7,282 earlier in the day. Also, at this moment, the word Bitcoin is a trending topic on Twitter in the US.