The Intercontinental exchange has announced its official plans to launch a physical bitcoin futures market. To be the focus point of the new Bakkt platform which the company is launching, bitcoin futures will also be physically settled thanks to number of key partnerships formed with the likes of Starbucks, Microsoft and BCG.
The Bakkt platform will offer users access to bitcoin futures on a 24 hour timescale. Fulfillment will be on a physical scale as Starbucks, one of the leading brands associated with the project, will allow digital assets to be converted to USD which can be spent at Starbucks branch’s according to VP Maria Smith of Partnerships and Payments. The final goal of the partnership remains to allow digital asset holders to seamlessly convert their crypto into physical cash.
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