The Intercontinental Exchange is going to launch a digital asset platform Bakkt. The launch is expected to happen later in 2019.
Plans for Future
The CEO of the company, Jeff Sprecher, has explained the main plans of the company. For example, during 2018, the main efforts of the International Exchange were directed to development of strategic initiatives. The company has spent already 1 bln USD on that. One of the main aims of the company is launching of their digital asset platform.
At the moment ISE works with 23 main exchanges in the world, among them is the New York Stock Exchange.
The company management has big expectations from the Bakkt. Even though the platform is going to generate 20-25 mln USD of expenses just during the first quarter or its operation, but in future, the company expects to get significant profits. The company CEO doesn’t specify the expected sums of income, just tells, that they will be updating the financial world about the Bakkt progress during the year.
Sprecher compares the launching of the platform with a moonshot bet. It is completely different from all previous experiences, so, nobody can make forecasts. And guessing is not the way the CEO manages a business.
Bekkt is independent
For now, Bekkt is going to be separated from the company. It is even going to have own offices, infrastructure and the project team. Th project has attracted a significant number of investors, among the biggest ones are Starbucks and Microsoft. So, we can make a conclusion, that the platform should be a successful project.
Moreover, Bakkt is going to be a long-term project and not the one created for getting a short-time revenue. But the launch was delayed because of the consultations and discussions with the US States Commodity Futures and Trading Commission.
Reminder: the launch of the platform was initially planned for 2018,