Bakkt, the first who was licensed to offer physically-settled Bitcoin futures contract has revealed that it’ll be diving into the cash-settled futures contracts. CoinDesk reported that the product will be released before 2019 ends. The fiat settled Bitcoin contract will be implemented via the Intercontinental Exchange’s Singapore-based clearinghouse.
Bakkt’s COO said that “We have the intention of offering a cash-settled contract as well.” Users from different countries including the USA will be able to access the service.
Following the start in September, Bakkt Bitcoin futures had a drab start. The launch was associated with a drop in Bitcoin price. The contract has been gaining traction, however it cant match the CME Group cash-settled contract. Bakkt aims to compete with its Chicago-based rival supported by the new service.