ICE, Intercontinental Exchange has announced a global platform Bakkt for digital assets. ICE is the owner of the New York Stock Exchange (NYSE), has announced that it will form a new company whose goal is to make bitcoin a mainstream financial asset, reported Business Wire.
The company will use Microsoft cloud solutions to create an open and regulated cryptocurrency platform. The new company is also working with companies like BCG, Microsoft, Starbucks, and others, to create an integrated platform that allows clients and to purchase, sell, store and spend digital assets on a seamless global network.
The Bakkt platform is likely to include regulated markets and warehousing along with merchant and consumer applications. Its primary use will be for trading and transformation of Bitcoin versus fiat currencies, as Bitcoin is today the most liquid digital currency.
Jeffrey C. Sprecher, Founder, Chairman and CEO of Intercontinental Exchange said that,
In bringing regulated, connected infrastructure together with institutional and consumer applications for digital assets, we aim to build confidence in the asset class on a global scale, consistent with our track record of bringing transparency and trust to previously unregulated markets
ICE is an American company that owns exchanges for financial and commodity markets, and operates 23 regulated exchanges and marketplaces. This includes ICE futures exchanges in the United States, Canada and Europe.
Kelly Loeffler, CEO of Bakkt said that,
Bakkt is designed to serve as a scalable on-ramp for institutional, merchant and consumer participation in digital assets by promoting greater efficiency, security and utility. We are collaborating to build an open platform that helps unlock the transformative potential of digital assets across global markets and commerce.
Maria Smith, Vice President, Partnerships and Payments for Starbucks said that,
As the flagship retailer, Starbucks will play a pivotal role in developing practical, trusted and regulated applications for consumers to convert their digital assets into US dollars for use at Starbucks. As a leader in Mobile Pay to our more than 15 million Starbucks Rewards members, Starbucks is committed to innovation for expanding payment options for our customers
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