NYSE Owner Announces Launch Of New Crypto Ecosystem

Intercontinental Exchange (ICE), an American network of exchanges and clearing houses, announced the opening of Bakkt, a global regulated ecosystem for digital assets. The new network for token trade and storage will be based on Microsoft Azure cloud technologies.

ICE owns the NY Stock Exchange (NYSE) and other trading platforms. Bakkt startup is developed as a state-regulated market for global-level crypto operations. The team of the platform is going to focus primarily on trading and conversion of bitcoin to fiat because of its high liquidity. Transactions on Bakkt will be conducted with the permission of the US Commodity Futures Trading Commission (CFTC).

Introducing Bakkt https://t.co/FHBWMiBrdh

— Bakkt (@bakktapp) 3 августа 2018 г.

The blockchain applications for trading operations will be also integrated into the ecosystem. Starbucks will become the leading developer of tools for converting cryptocurrency into the US dollars, which users can spend in the coffee network. Starbucks is the leader in mobile payments with 15 million customers connected to the Starbucks Rewards app.

Bakkt developers created a security system with double keys, which are stored offline. Any transaction will require a private key to verify the client's identity, and a public key to reimburse funds to the beneficiary's account.

An introduction to Bakkt on @Medium from our CEO Kelly Loeffler: https://t.co/2PNJ3QZig6 pic.twitter.com/U8UXDSsTHG

— Bakkt (@bakktapp) 3 августа 2018 г.

The launch of Bakkt is scheduled for November 2018. According to Jeffrey Sprecher, ICE’s chair and CEO, the new project intends to increase confidence in cryptos, bringing transparency of operations and responsibility to previously uncontrolled markets. Thus, the crypto trading sphere can develop effectively and safely.

As previously reported, the new Swiss crypto exchange offers cashback.