Bakkt will have Bitcoin options and support for retail brokers

  • The cryptocurrency exchange platform, Bakkt, continues to expand its services. Its new goal is to provide support and assistance to Bitcoin retailers.
  • Records continue to be broken in trading with Bitcoin Futures on the platform.

Bakkt seems unstoppable. A few months ago, when trading began with its Bitcoin Futures, few would have made a favorable bet for the exchange. However, now they seem to break new trading records every week.

Bakkt with support service for retail brokers in Bitcoin

According to a publication on Medium, the exchange platform is very clear about the potential of cryptoassets. The publication was made by Mike Blandina, Bakkt’s Head of Production, that not only highlights the impressive growth that the exchange has had, but also the milestones that Bakkt hopes to reach in the coming months:

You’ve seen our efforts in our mission to “build trust in digital assets” with the successful introduction of the Bakkt Bitcoin Futures and the Bakkt Warehouse. In fact on Friday, we set another trading record of 1,179 contracts

Blandina, who has worked for Google, PayPal, among other large companies, hopes to be able to maintain the growth that Bakkt has had this year. In addition, he announces the creation of a support service for retail brokers. The expansion of Bakkt’s services will include not only the possibility of dealing with a large number of cryptocurrencies, but the merchant will be able to store, move, transfer, trade their digital assets securely:

A key feature of the model we’ve designed is to support a superset of digital assets, including cryptocurrencies, as seamlessly as investors transact in stocks in a retail brokerage account.

Ultimately, Bakkt is making an effort to improve the overall user experience. In that way, increase adoption in ways that had not been attempted. In the publication, Blandina states that cryptocurrencies, digital assets, will begin to be accepted by millions when people don’t need to think about the technology that supports them.

In that sense, they announced the creation of a consumer application to facilitate much more trade with cryptocurrencies. The exchange will also continue to increase user confidence, according to Blandina, improve the control that each user has over their account and create a stronger infrastructure that will enable them to achieve their goals.

Impact of Bakkt Options service on the price of Bitcoin

Before the end of the year, there are several events that could give a big boost to the price of Bitcoin. In addition to the announcements that could be made by China, which has just legalized Bitcoin mining, Bakkt also announced the introduction of its Bitcoin options by the end of this year.

As CNF has reported, Bakkt had a disappointing start with the release of its Bitcoin futures, as mentioned above. However, the upturn in the exchange has been impressive for the cryptocurrency industry.

The price of Bitcoin, at the time of publishing the article, is at $8,518 and continues its downward trend, registering a lateral movement (-1.13%) in the last 24 hours.

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About Author

Reynaldo Marquez has closely followed the growth of Bitcoin and blockchain technology since 2016. He has since worked as a columnist on crypto coins covering advances, falls and rises in the market, bifurcations and developments. He believes that crypto coins and blockchain technology will have a great positive impact on people's lives.

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