Intercontinental Exchange’s Digital Asset Platform Bakkt Announces First Acquisition

Bakkt, the digital assets platform backed by the New York Stock Exchange (NYSE), has acquired certain assets in futures commission merchant Rosenthal Collins Group (RCG). The acquisition was announced in a Medium post on Monday, Jan. 14.

In the post, Bakkt CEO Kelly Loeffler hinted that the company’s latest move is part of Bakkt’s ambitious plans to become the first integrated and institutional grade exchange-traded markets and custody solutions.

Loeffler also stressed that the acquisition means that the company is slowing down operations while awaiting regulatory approval by the United States Commodity Futures Trading Commission (CFTC) for the launch of regulated trading in crypto markets. Loeffler stated: “Our mission requires significant investment in technology to establish an innovative platform, as well as financial market expertise to deliver the most trusted fintech ecosystem for
digital assets.”

Reference: https://cointelegraph.com/news/intercontinental-exchanges-digital-asset-platform-bakkt-announces-first-acquisition

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