Bakkt grants $ 182.5 million in funding

Bakkt, a company of the Intercontinental Exchange (parent company of NYSE – New York Stock Exchange), made a big announcement on New Year’s Eve. Bakkt CEO Kelly Loeffler said in a statement that Bakkt has completed its first round of financing with 12 partners and investors.

The financing confirms the growing interest in Bitcoin from fintech venture capitalists, leading technology companies and Wall Street institutions, as the new platform, founded by the parent company of the New York Stock Exchange, is primarily focused on providing institutional access to promote digital assets while expanding merchant and consumer usage.

The companies that have invested are considered leading players in both the financial and crypto currency sectors. These include Horizons Ventures, Galaxy Digital, Boston Consulting Group, Microsoft’s Venture Capital Arm, Pantera Capital, PayU, CMT Digital, Eagle Seven, Goldfinch Partners, Alan Howard, M12, Naspers, Protocol Ventures and Intercontinental Exchange itself collected over $ 182.5 million.

Loeffler stated in the press release:

Our work today is focused on promoting institutional access for digital assets and commercial and residential use, and we’re already building that vision, working with big companies like Starbucks.

Start date remains uncertain

In the beginning of December, the start date of Bakkt was postponed to 24 January, after the original date could not be held in December.

However, Loeffler also stated in the communication that physically delivered and stored Bitcoin will come onto the market with regulatory approval and that it will “reinforce the voice of the US authorities in the global evolution of the digital asset market”.

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