Cryptocurrencies
NYSE Owner to Offer Futures Paying Out in Bitcoin Next Month
- Bakkt venture launched in 2018 includes Starbucks, Microsoft
- Goal is for Bakkt to serve as backbone of payment system
Photographer: Chris Ratcliffe/Bloomberg
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Intercontinental Exchange Inc., the parent of the New York Stock Exchange, won an approval that clears the way for its Bakkt unit to allow investors to buy derivatives that pay out with Bitcoins for the first time.
The New York State Department of Financial Services on Friday granted a charter to Bakkt Trust Co. to hold custody of customers’ tokens. The futures had already gotten a green light from the U.S. Commodity Futures Trading Commission under a self-certification process. The first contracts will be offered Sept. 23.