{"id":16941,"date":"2019-09-10T00:00:00","date_gmt":"2019-09-10T00:00:00","guid":{"rendered":"https:\/\/crypto-economy.com\/bakkt-btc-bakkt-client-deposits-backed-by-125m-insurance-coverage\/"},"modified":"2019-09-10T00:00:00","modified_gmt":"2019-09-10T00:00:00","slug":"bakkt-btc-bakkt-client-deposits-backed-by-125m-insurance-coverage","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/bakkt-btc-bakkt-client-deposits-backed-by-125m-insurance-coverage\/","title":{"rendered":"Bakkt [BTC] \u2013 Bakkt Client Deposits Backed by $125M Insurance Coverage"},"content":{"rendered":"
Bitcoin futures platform Bakkt<\/strong>, a subsidiary of NYSE parent company Intercontinental Exchange, recently launched its Bakkt Warehouse services to store client assets<\/strong>. The service was launched<\/a><\/strong> last week on September 6th, and today the company announced<\/a><\/strong> the service to be active which means that its target institutional clientele is now able to send their bitcoins over to the Bakkt Bitcoin Trust warehouse<\/a><\/strong> for safekeeping as they await the official launch of the Bakkt futures platform on September 23rd<\/strong>. In the same tweet announcing<\/a><\/strong> the activation of the warehouse, Bakkt revealed that the customer assets will be insured up to a rather conservative $125 million<\/strong>.<\/p>\n Bakkt received<\/a><\/strong> its go-ahead to launch its physically-settled bitcoin futures platform last month on August 16th<\/a><\/strong> which was roughly a year since its initial introduction to the public. The company has suffered through several delays due to regulatory reasons from the US Commodities and Futures Trade Commission (CFTC). The major concerns from the CFTC were based on the digital asset custody on top of the possibility of market manipulation claims that most regulators cite. However, Bakkt took an alternate route securing a Trust license from the New York Department of Financial Services (NYDFS) which allowed it to circumvent the CFTC barrier.<\/p>\n