Clients for the highly anticipated crypto trading platform Bakkt will be able to deposit funds in the Bakkt Warehouse beginning Sept. 6.
Bakkt Warehouse Accepting Bitcoin Deposits Next Week
According to an announcement published on Twitter Aug. 28, Bakkt will begin offering secure storage for customer bitcoin starting next week. Clients will have access to Bakkt Warehouse for physical delivery of the bitcoin futures trading that is set to begin later in the month. The announcement also indicates that client bitcoin will be available for “end-to-end regulated markets and custody.”
On Sept 6, our Warehouse will begin offering secure storage of customer bitcoin to prepare for the launch of Bakkt Bitcoin Daily & Monthly Futures when they launch on Sept 23
These contracts will enable physical delivery of bitcoin with end-to-end regulated markets and custody
— Bakkt (@Bakkt) August 28, 2019
Bakkt Warehouse is apart of the Bakkt Trust Company and operates with the same security protections as the New York Stock Exchange (NYSE).
Despite first unveiling the project more than a year ago, the Intercontinental Exchange-backed trading platform is set to finally launch after a series of regulatory setbacks. However, Bakkt announced earlier in August that it had secured the necessary approvals to operate a bitcoin futures trading platform.
In contrast to CME, which offers cash-settled futures contracts for bitcoin, Bakkt will supply clients with actual BTC, which has generated excitement from the crypto-asset investing community.
Bakkt is also planning to offer a margined trading product, which CEO Kelly Loeffler previously explained to CoinDesk as a “regulated exchange” alternative to the existing spot markets.