RATE Group | Bitcoin and the NYSE — unpacking Bakkt’s BIG plans » Brave New Coin
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Bitcoin and the NYSE — unpacking Bakkt’s BIG plans » Brave New Coin

09 Aug Bitcoin and the NYSE — unpacking Bakkt’s BIG plans » Brave New Coin

Posted at 02:26h in Bitcoin News by

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Bitcoin is no stranger to the endorsement of industry giants, attracting the support of Twitter founder Jack Dorsey, Paypal co-founder Peter Thiel, and former hedge fund manager Mike Novogratz. But the most resounding endorsement yet comes from a slightly more obscure financial titan—Jeff Specher, the Chairman of Intercontinental Exchange (ICE) which owns the New York Stock Exchange (NYSE) and many other exchanges internationally. 

Bakkt—a play on the word ‘backed’ from the phrase ‘asset-backed securities’—is Specher’s latest venture, and aims to achieve nothing short of making bitcoin a trusted global currency by creating a federally-regulated crypto ecosystem.

This vision is supported by Microsoft, who will lend its cloud expertise; Starbucks, which will help pioneer mobile payment, and the Boston Consulting Group, who will assist ICE in forming the new company—an all-in-one bitcoin exchange for trading, custody and delivery, that will use  ICE’s existing…

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