Bakkt Will Launch Cash-Settled Bitcoin Futures in Singapore

November 23, 2019 2:21 AM UTC

Bakkt, futures bitcoin exchange has recently announced the addition of cash-settled futures to its products. According to the official announcement, Bakkt will launch Cash Settled Monthly Futures contract in December and will be listed on ICE Futures Singapore.

Our new cash settled futures contract will offer investors in Asia and around the world a convenient, capital-efficient way to gain or hedge exposure in bitcoin markets,

said Lucas Schmeddes, President & COO of ICE Futures and Clear Singapore.

Bakkt had a pretty disappointing launch but has been able to recover and has experienced a significant increase in daily trading volume even though the price of Bitcoin has been slowly declining for the past few weeks.

Singapore to Regulate Bitcoin Futures

Bakkt announcement came right after the central bank of Singapore announced its plan to approve Bitcoin and other cryptocurrency futures and regulate them.

According to the announcement, there seems to be a lot of international institutional investor interest for Bitcoin and a few other cryptocurrencies.

The Monetary Authority of Singapore (MAS) published a consultation paper asking for approval to trade payment token derivatives on approved exchanges.

MAS will require Approved Exchanges and licensed intermediaries to include risk warnings tailored to payment token derivatives in informational materials provided to investors.

This will certainly be really good for Bakkt which is already seeing a significant increase in trading volume and interest.

Follow us on
Daily updates

    Leave a Reply

    Your email address will not be published.

    one × 2 =