Intercontinental Exchange, the owner of the New York Stock Exchange will from Sunday offer investors the option to trade Bitcoin, giving the pioneer cryptocurrency further mainstream recognition.
The operations will begin at the opening of the electronic financial market at 20:00 in New York (0000 GMT). Brokers will then be permitted to trade futures on one of the Intercontinental Exchange (ICE) platforms, betting on increasing or decreasing the value of the currency, as well as on oil or gold.
The cryptocurrency has been trading at around $10,000 per bitcoin.
Bakkt, a virtual currency subsidiary of ICE will lead the operation. Launched in August 2018, Bakkt was supposed to begin trading last November but the project was delayed.
It was already possible to buy and sell Bitcoin directly on multiple smaller platforms, but those lacked the historic and official legitimacy of the ICE.
Bakkt´s products are different in that brokers receive Bitcoins directly. They can then decide whether or not to entrust the Bitcoins to Bakkt, in a sort of secure virtual warehouse.
“Providing a trusted ecosystem is our first objective,” Bakkt CEO Kelly Loeffler said in a mid-August statement just after American authorities gave final approval.
The company launches its products before the advent of Libra, the promised Facebook cryptocurrency for 2020, which has sparked growing international outcry among central banks, governments, and regulators.
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27 September, 2019