Bakkt, adjustable platform for futures for cash, gained much popularity in recent cryptosuite, announced the completion of the transaction on purchase of the company “Rosenthal Collins Group” (RCG), which became the first in its history. The platform, which is supported by NYSE and ICE, has not yet started, but the new acquisition will allow it to move forward in achieving your goal.
RCG, a brokerage firm specializing in futures contracts and options was established in 1923, having at that time to get large popularity among traders. This is the first in the history Bakkt acquisition, and their assets are now under the control of the company, and the RCG team will join the platform.
What does this mean for Bakkt the acquisition of RCG
The launch of the platform Bakkt already was postponed several times, however, the acquisition of RCG definitely gives you the opportunity to assume that the process will be accelerated as a result of the influx of new tools that you can use for improvement. RCG is a licensed broker in futures and options, which fits in with the intentions of the company Bakkt to create a highly effective broker platform for futures and options on the market digital assets.
Since the completion of the transaction means that Bakkt will have at its disposal most of the employees of RCG, the company will be able to use their years of experience in the commodity futures and option markets to aspire to long ago.
Delay Bakkt: the launch is scheduled for the end of 2019
Start Bakkt have repeatedly been delayed, however, during the statement last week, head of the Intercontinental Exchange (ICE), in whose hands, in fact, is the management and support of Bakkt, announced that the platform should be officially launched by the end of this year.
Platform Bakkt has been criticized in cryptosuite due to the fact that its launch kept getting pushed back, forced to lean toward the idea that ICE and NYSE that support it, are not serious perceive the project. However, the recent acquisition indicates a possible term, accelerate platform development and launch, with the addition of new firms in the Arsenal Bakkt.
In addition, it is planned that Bakkt will be fully supported by the state, was a brokerage firm on futures and digital assets, in accordance with all systems, operations and personnel of the company should be best for the job. So any, even minor problems can cause a startup delay. However, with the acquisition of the old brokerage firm, such as RCG, having long experience, Bakkt the future looks more optimistic.
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Tags: Bakkt Rosenthal Collins Group