The crypto futures platform Bakkt, which is owned by the Intercontinental Exchange (ICE), has been finally launched. After a long series of delays, Bakkt’s CEO Kelly Loeffler commemorated the launch and explained why it was such an important event for the crypto industry.
According to her, this is the first time in which the United States receives a physically-settled Bitcoin (BTC) futures contract. This was, to her, a gamechanger. Why? Because of three points, mostly.
The first one was that now the product had a reliable and regulated infrastructure that would protect the investors, the second was that it would help in the adoption of this new technology and the last point was that it would help in the quick expansion of innovative methods for using digital assets.
She also outlined that the company’s mission was to expand the investors’ access to the global economy via its digital assets.
Loeffler believes that such a product with end-to-end regulation was a demand of the investors so that they could really start using digital currencies in their lives. This is why the company was built. To be an important milestone for the industry and to bring to the clients a transparent and regulated option that could support their desires to be a part of this emerging industry.
Bakkt’s futures went live for trading yesterday, September 22. Now, the volume of trading its starting to go up and some people have compared it to when the Chicago Mercantil Exchange (CME) launched its own platform. At the time of this report, contracts were being sold at $9,992 USD each for 1 BTC.
Author: Gabriel Machado
Coincheck, a major crypto exchange based in Japan and owned by the Monex Group, is considering the launch of an Initial Exchange Offering (IEO) platform. According to the company, the group is still considering the possibilities, but it was hinted that the launch may actually happen.
IEO platforms are getting more popular recently, mostly due to the level of success that Binance reached with its own IEO platform. The word ICO got a bad rep after so many ICOs failed after 2017. Many investors now see them as highly unregulated and risky, because of this, the IEOs are getting traction.
They are deemed to be more reliable than Initial Coin Offerings (ICOs) by many experts. Companies such as Huobi, Bitfinex, Gate.io and others are already using this new model. Coincheck is paying attention and will possibly start to invest in this field as well.
According to the company, the ideal clients for a possible platform would be the ones that do not have any tokens yet but already have a real business. Now, the company is considering the local rules in order to determine whether this ICO can be a good idea.
Coincheck was one of the largest exchanges in Japan, but it was hacked and it lost nearly everything. Since then, the company is trying a new start. This year, it was greenlighted by the Japanese regulators to open up shop again and the launch of IEOs, which are still not that popular in Japan, might give the company the necessary boost.
Author: Daniel W
The crypto exchange Poloniex, which is owned by Circle and based in San Francisco, is about to remove the total of 23 trading pairs from its list of assets. The reason for the change is that the crypto exchange has deemed that these trading pairs have a very low volume, so it is not worth to keep them around.
Curiously, none of the trading pairs is paired against Bitcoin. They are all traded against Monero (XMR), Ethereum (ETH), Tether (USDT) and only one with USD Coin (USDC). You can check the complete list of assets here.
Not The First Time Assets Are Delisted
This is not the first time that the Circle-owned exchange decides to delist assets. The last time this happened, on May 29, several assets have been completely removed from the platform, not only trading pairs. The assets were Bytecoin (BCN), GameCredits (GAME), Lisk (LSK), Augur (REP), Ardor (ARDR), Decred (DCR), Gas (GAS), Omni Layer (OMNI) and Nxt (NXT).
You may have heard of these assets. The main reason for delisting was not really low volume but regulatory uncertainty. The company is U. S.-based and most of the assets were created via Initial Coin Offerings (ICOs), which are not fully legal in the country. This meant that even somewhat famous tokens such as Augur ended up being kicked from the platform.
In related news, Coinbase Pro has also started to limit some assets this month. XTZ/BTC and XTZ/USD are set to enter transfer-only mode soon, even in the supported regions of these assets. At the moment, however, no orders can be placed on the order books of the platform.
Author: Gabriel Machado
The ABS Bank, a banking institution from New Zealand that is owned by the Commonwealth Bank of Australia, has recently invested in a local company called TradeWindow. The company uses the blockchain technology and it is focused on creating solutions for supply chains.
TradeWindow’s CEO AJ Smith affirmed that this was one of the first times in which a bank has made a direct investment in this kind of company in the country. This, the CEO believes, will allow the company to get even more clients and offer better services.
A manager at ASB called Nigel Annett also commented on the situation, affirming that the blockchain company has potential and that it can transform how international trade happens. Annett said that TradeWindow will allow the bank to operate in a much more efficient way than it did before.
TradeWindows’s technology was created in order to enable companies to create a single trading window for transactions that can be accessed by everyone that is a part of it. This connects companies and decreases the risk of fraud exponentially.
Also, all major documentation that may be needed on the platform can be uploaded to this window and digitally exchanged. This can eliminate costs and save a lot of time, bring more efficiency to the clients of the company, especially if they constantly make international trades.
Recently, New Zealand is becoming more friendly to Bitcoin and the blockchain technology. Not only the country is set to change how crypto taxes work, but many companies are finally being able to finally get mainstream support.
Author: Bitcoin Exchange Guide News Team