World's biggest stock exchange operator is launching a Bitcoin market

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Intercontinental Exchange {ICE}, the owner of New York Stock Exchange {NYSE}, had announced that will list a pphysical-settled Bitcoin futures contracts and form a new company intended to make Bitcoin a mainstream financial asset.

ICE made the groundbreaking announcement on Friday, revealing that the new platform - Bakkt - has been developed in partnership with a variety of blockbuster names, including Microsoft, Starbucks, and BCG.

Bakkt will integrate with the ICE's U.S. futures market and clearinghouse to list a physically-settled one day Bitcoin futures product, complete with physical warrhouware managed in-house by ICE. This product will launch in November, pending regulatory approval.

Kelly Loeffler, CEO of Bakkt says:

'Bakkt is designed to serve as a scalable on-ramp for institutional,merchant and consumer participation in digital assets by promoting greater efficiency, security and utility.' 

However,far from just a Bitcoin futures exchange,Bakkt is intended to be a full-fledged platform that helps digital assets ecolve into a mainstream financial asset class.

Maria Smith, Vice president, partnership and payments for Starbucks said:

'As the flagship retailer, Starbucks will play a pivotal role in developing practical, trusted and regulated applications for consumers to convert their digital assets into US dollars for use at Starbucks.'

'As a leader in Mobile pay to our more than 15 million Starbucks Rewards members, Starbucks is committed to innovation for expanding payment options for our customers.'

Thanks regards,

Vinay Kumar.