Bakkt has tapped a former Cisco and IBM executive to lead its board of directors, according to an announcement Friday.
Chairing Bakkt's board will be Tom Noonan, described as "a cyber expert" and the founder of Internet Security Systems, JouleX and Endgame.
He will be accompanied by Akshay Naheta, managing partner at Softbank; Sean Collins, managing partner at Goldfinch Partners; ICE CEO and chairman Jeff Sprecher; and Kelly Loeffler, Bakkt's head. Noonan is already a member of ICE's own board of directors.
Once approved by the Commodity Futures Trading Commission, Bakkt's physically settled bitcoin futures contracts will be listed on ICE Futures US and ICE Clear US, "Where global market participants already transact," Loeffler wrote in a blog post Friday.
She described Bakkt's pending products as "The first physical delivery price discovery contracts for bitcoin to the U.S., where price formation will occur in federally regulated, transparent markets."
"Similarly, just as digital asset custody is at the core of Bakkt's infrastructure development, secure custody is at the heart of our physical delivery bitcoin futures contracts."
In Friday's post, Loeffler said Bakkt has "Worked closely" with the CFTC in recent months.
While CFTC staff have been reviewing Bakkt's proposal since last year, it is unclear where the process stands.
The CFTC is expected to publish Bakkt's proposal for a 30-day public review period, after which the commissioners will vote to approve or disapprove.
Bakkt is unlikely to launch before May. "We continue to work with regulators to address the emerging global landscape for digital assets," Loeffler wrote.
Bakkt Taps Former IBM and Cisco Exec Tom Noonan to Chair Its Board
gepubliceerd op Mar 29, 2019
by Coindesk | gepubliceerd op Coinage
Coinage
Vermeld in dit artikel
Recent nieuws
Alles zien
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.