Bitcoin
$ 54,806
Ethereum
$ 2,113.1
Litecoin
$ 248.24
okex ads

Bakkt Set to Outdo CME Group

Bakkt, a provider of physically-settled bitcoin futures contracts, is now planning to offer a cash-settled version of the product due to customer demand.

Join the fastest growing network on Telegram

The move will come to some as a remarkable about-face for a company that campaigned on bringing “trusted price formation” to the cryptocurrency market with its flagship physically settled BTC contracts, launched in late September, and took the name “Bakkt” in a nod to its products being backed—physically settled—in contrast to its cash-settled competitors.

Bakkt is reportedly in discussions with the Monetary Authority of Singapore, the country’s central bank and financial regulatory authority, to offer the planned product.

Bragging Rights!

The firm seems to be fixed on outmuscling CME with its own cash-settled product and consolidating power to become the one-size-fits-all institutional trading venue for Bitcoin.

CME Group, a derivatives exchange giant is the only provider of cash-settled bitcoin futures contracts. Bakkt’s plan seems to not only beat rival CME on the cash-settled product, but also bitcoin options contracts.

Interestingly, CME has been preparing to launch an options product tied to its bitcoin futures on Jan. 13, while Bakkt is planning to launch its options contracts on Dec. 9.

Related Posts

Leave a Reply

Newsletter

Subscribe To Newsletter

For updates and exclusive offers, enter your e-mail below.

Popular Posts

Swiss Regulator FINMA Rejects Bitcoin Suisse Application for a Banking License
April 19, 2021By
On-chain voting launches on Gorilla DAO
April 19, 2021By
US President Biden Pushes for More Stimulus, One Million ‘Plus-up’ Payments Go out This Week
April 19, 2021By

Advertisement

Video Posts

In
Blockchain-Based Solution For Security And Scalability For Any Business
April 9, 20210
In
Tech Adoption For Small Business
April 6, 20210

Crypto Stats


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin54,806 0.23 % 3.72 % 8.52 %
Ethereum2,113.1 0.84 % 6.10 % 1.37 %
Binance Coin489.19 1.26 % 2.56 % 18.27 %
Tether0.9959 0.02 % 0.72 % 0.49 %
Polkadot43.88 0.58 % 0.43 % 36.39 %
Cardano1.160 1.41 % 11.34 % 12.01 %
XRP1.250 1.67 % 12.45 % 14.37 %
Uniswap30.54 1.42 % 4.10 % 16.88 %
Litecoin248.24 1.14 % 10.84 % 1.44 %
Chainlink34.88 2.09 % 14.42 % 5.10 %