New York Stock Exchange(NYSE) Owner is launching a bitcoin platform.
The Intercontinental Exchange (known as ICE), owner of the New York Stock Exchange said it is launching a new bitcoin company and futures contracts based on the digital currency.
As stated in a press release, the project–called Bakkt–is already working with companies like Microsoft, Starbucks, and BCG to “create an integrated platform that enables consumers and institutions to buy, sell, store and spend digital assets on a seamless global network.”
Vice president of partnerships and payments for Starbucks, Maria Smith, said that Starbucks will play a crucial role in developing a trusted and regulated way for consumers to convert digital assets into U.S. dollars for use at Starbucks.
“Starbucks is committed to innovation for expanding payment options for our customers,” Ms. Smith said.
As far as the future contracts, Ice’s bitcoin future will differ from the CME and Cbeo because they will be physically delivered, meaning holders can get actual bitcoin, and not cash, upon settlement. The future products are expected to be launch in November, pending U.S. Commodity Futures Trading Commission (CFTC) approval, ICE states.
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