Bakkt to Begin User Acceptance Testing on July 22

Bakkt will begin user acceptance testing for its Bitcoin Futures products from July 22, 2019. In a rather colourful blog post which likened the launch date to Apollo 11’s moon landing, COO of Bakkt Adam White confirmed the date to initiate user acceptance testing for its bitcoin futures listed and traded at ICE Futures US and cleared at ICE Clear US.

Last month, Bakkt had announced that it will begin user acceptance testing in July, but did not give a date. The company has seen multiple delays owing to compliance issues ever since its first announcement.

Bakkt had also acquired a crypto custody service in April called the Digital Asset Custody Company. The acquisition will help Bakkt securely store digital assets for its clients.

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.

Adam White, COO of Bakkt

(Image Credit: Marco Verch | Flickr)

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