Bakkt may not be Coming this month

Bakkt may not be able to launch its planned Bitcoin derivatives exchange as planned this month, but that does not prevent the company from developing its projects.

CEO Kelly Loeffler announced Monday that the New York Stock Exchange-funded startup acquired “certain assets” from the Rosenthal Collins Group (RCG), an independent futures commission distributor. RCG had previously announced that it would sell its client accounts and brokerage business to the UK company Marex Spectron. Detail below

https://medium.com/bakkt-blog/our-first-acquisition-d8185bf99287

Bakkt had previously announced that it had raised nearly $ 183 million in a round of financing. The funds should be used to build the infrastructure of the exchange.

The acquisition will help Bakkt improve its risk management and treasury operations, Loeffler wrote, adding that the deal will also help improve Bakkt’s money laundering and know-your-customer business.

The transaction is expected to be completed next month.

Loeffler added:

“This acquisition highlights the fact that we are not standing still, as we expect the CFTC to approve the regulated trading on our crypto markets. Our mission requires substantial investment in technology to create an innovative platform, as well as financial market knowledge, to provide the most trusted fintech ecosystem for digital assets. “

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