Adam White the COO of Bakkt states that the bakkt futures contract is all set for user acceptance testing for its bitcoin futures traded at ICE futures US and cleared at ICE clears US.
He also stated that the launch will have a new standard of accessing the crypto market.
The crypto market remains constrained due to limitations in infrastructure and regulations which results in lower trading volume, high liquidity and price transparency than more established markets, for example, ICE Brent crude futures contract, which has a global trust in setting the price of crude oil.
He listed 10 problem-solving solutions for digital asset markets.
Also, there would be more additional features added like block trade and a fee holiday during the end of the year to encourage trading activities, market maker incentive programs to encourage liquid markets and integration with ISV’s and regulated brokerage platforms.
With all that being said, Bakkt could be a new backbone for the crypto markets.