Nearly 50 years ago the first automated teller machine was installed at a Chemical Bank branch located in Rockville Center, New York. At the time, it would have been hard to imagine how dramatically the banking industry would change, and the disruptive role the ATM would play in that evolution.
With the launch of the Bakkt Warehouse last week, I’m reminded of the role that innovation and technology play in shaping the financial industry. Looking forward, I’m excited at the role Bakkt will play in the coming years as we establish greater access, transparency and utility for bitcoin and other digital assets.
The launch of the Bakkt Warehouse, our regulated custodian and part of Bakkt Trust Company, allows for the safe, secure storage of bitcoin. It represents a milestone as we prepare for the launch of the Bakkt Bitcoin Daily and Monthly Futures contracts on ICE Futures U.S. The Bakkt Warehouse was built using the same institutional grade infrastructure, operational controls, and security protections that support the world’s most actively traded markets, including the New York Stock Exchange, and was designed to meet the highest standards of compliance and oversight.
We’re thrilled with the initial interest we have seen in the Bakkt Warehouse, and continue to onboard new customers and accept bitcoin deposits. When the physically-delivered Bakkt Bitcoin Futures contracts launch on September 23rd, we will create the first fully regulated marketplace specifically designed to meet the needs of institutional firms and their clients. This is evidenced by the quality of firms we are working with across trading, clearing, and investing, which are helping frame this new asset class and the infrastructure required to gain wider acceptance and applications.
Trusted infrastructure, particularly the regulated and secure custody of digital assets, is at the core of everything we do at Bakkt. It is also central to our plans for continued product development and expansion. If you’re interested in opening a Bakkt Warehouse account and trading the Bakkt Bitcoin Daily and Monthly Futures contracts, email us at email@example.com.