Bakkt To Provide Enterprises With Infrastructure For Crypto Assets
Kelly Loeffler, CEO of Bakkt, wrote in her blog on Medium that the digital ecosystem of the platform will change the developing crypto market due to safety standards that meet the basic requirements for financial institutions and a new infrastructure, including a guarantee fund.
Bakkt developers will apply the already existing regulated infrastructure of the futures exchange and plan to introduce physically supplied bitcoins on the world market.
According to Loeffler, their team intends to agree on all standards of compliance with the rules for the financial market supervision, combating money laundering, and reporting at the federal level of regulation. Besides, she stressed that the announced scheme for the development of the crypto infrastructure is still under consideration by the Commodity Futures Trading Commission.
According to the new project, bitcoin trading will be pre-funded, which actually eliminates the risk of default. However, for the clearing center, Bakkt will provide a separate guarantee fund for insurance against non-payment of obligations.
The new network on the Bakkt platform will allow enterprises to conduct operations in their digital ecosystem, where bitcoin deposits of investors will be kept offline mostly.
As previously reported, Loeffler decided to abandon margin trading on Bakkt in favor of transactions backed by assets.