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How Bakkt is unique: The new contracts will be the first to be “physically settled”—that is, when a contract expires, the bet will be settled with actual Bitcoin. In contrast, the CME Group’s contracts are settled in cash the traders never actually deal with the digital currency. 

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The announcement further pushes the largest cryptocurrency into the world of institutional investing, as its wide price swings and lack of major government regulation kept the coin from gaining much interest from Wall Street.

The New York Stock Exchange's parent company will offer

“The POC aims to increase operational efficiency, driving down the cost of operations as well as the cost of issuing bonds. We will continue to tap into emerging technological innovations to further develop the marketplace and improve the effectiveness and accessibility of the exchange.”

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Bakkt wants to make mainstream institutions less skeptical of digital assets. And it is betting that this will open the door to a much larger future marketplace for them—one that serves consumers in addition to financial institutions. To that end, getting the CFTC’s blessing for its custody service is just as important as the new futures contracts.

The owner of the New York Stock Exchange is now in the

The futures of Bitcoin: Futures contracts are legal agreements to buy or sell a given commodity at a specific price at a specific time in the future. Bitcoin futures trading, which in the US is regulated by the Commodity Futures Trading Commission (CFTC), may be more attractive to traditional financial institutions than investing directly in the asset. Investors can use futures to bet that the price will fall, an approach that can be used as a hedge. 

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The Malaysian bond market is one of the most developed and dynamic according to CBonds. The exponential growth of corporate bonds means the country’s bond market is one of the largest in the region. 

ICE previously said its long-term goal is to utilize cryptocurrencies for daily payments, as well as institutional investment through endowments, pensions and other funds.

ICE’s competitor the CME Group has been offering Bitcoin futures contracts since December 7567. According to the Wall Street Journal , more than $755 million worth of Bitcoin futures already change hands on an average day.

“The creation of an industry-wide ecosystem will allow for a complete solution in the origination, servicing, trading, clearing, and settlement, allowing Malaysia to potentially have the first-mover advantage in attracting regional and international bond listings.” 

Hashstacs’ Trident Platform will be used for testing and management of tokenized bonds. Bursa Malaysia, Securities Commission of Malaysia, and several local banks will be the first users. Hashstacs will concurrently build a blockchain solution for issuing, serving, trading, and clearing bonds within the platform.

Intercontinental Exchange (ICE) has finally opened the doors to its digital asset marketplace, called Bakkt, offering Bitcoin futures contracts. Many view the launch, which has been delayed for nearly nine months, as a crucial step toward mainstream adoption of digital assets. 

Keep up with the fast-moving and sometimes baffling world of cryptocurrencies and blockchains with our weekly newsletter Chain Letter.  Subscribe here. It’s free!

Bitcoin is up about 695% versus the US dollar year-to-date. It's served as a safe haven of sorts as investors flee stocks amid recession fears, since it's not as tied to geopolitical uncertainty.

Given its significance, Project Harbour is an initiative by Malaysia’s stock exchange to explore Distributed Ledger Technology (DLT). The immediate task will be to create a register for Labuan Financial Exchange’s (LFX) a bond marketplace, and a subsidiary of Malaysia’s stock exchange (Bursa Malaysia). 

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