Since the extreme bull-run of the crypto world back in 2017, crypto trading has gained serious traction in the investor community. Many people from different arenas are taking the route of crypto trading in order to make a quick buck. But for the past year, things have not turned out to be quite friendly for the investor community because the bear run of the market has continued on for longer than expected. But moving into 2019, there are certain developments that might light a fire in this arena again and one of these developments is the establishment of the crypto trading platform, Bakkt.
Bakkt is a company that is being launched by an operator of global exchanges, Intercontinental Exchange (ICE). The company is already seeing large support from brands like Microsoft, BCG, Starbucks etc. The platform also raised $182.5 million from 12 partners and investors just recently. Bakkt aims at providing the consumer and merchant community from across the world with a safe and secure environment for performing operations like crypto buying, selling, storing and spending. The Chief Executive Officer of the platform, Jeff Sprecher, recently indicated that Bakkt might launch later this year. If this crypto trading platform gets established this year, here’s what it might signify for the crypto world.
With a trusted crypto trading platform in place, a path for institutions to step into this game will be paved. The institutional investment which is sitting on the sidelines as of now will likely flood into the crypto world. This will likely help boost the prices of various cryptocurrencies and as a result, the crypto trading world overall will likely light up again.
Besides, Bakkt will also help increase the adoption of cryptocurrencies among the general public, consumers and merchants across the world. Merchants from around the globe can make use of this crypto trading platform to build their own businesses. Bakkt is already trying to collaborate with brands like Starbucks. Consumers and merchants stepping into its ecosystem will surely help increase the adoption of the crypto world overall. The platform will also help establish a layer of trust regarding cryptos which is currently not seen.
According to some experts in the game, Bakkt might prove to be even more beneficial than a crypto-linked exchange-traded fund (ETF). With ICE’s CEO hinting its establishment at the end of the year, let’s see how this crypto trading platform affects the crypto arena overall.
Previously talking to BlockPublisher, member of Forbes Financial Council David Gokhshtein stated:
The game changes with Bakkt in the picture.