Bakkt continues its attempts to consolidate within the crypto market. Launching new products and services that serve to position itself, after a slow start in the market of future contracts on Bitcoins. What now would lead to the launch of its own payment application.
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Bakkt and the future
Without a doubt, Bakkt has been one of the biggest disappointments of this second half of the year 2019. And is that, if there was a product that was expected by all the members of the crypto community were the physical contracts futures on Bitcoins of Bakkt. These derivative financial products, promised to be a revolution in the way in which it invests in cryptocurrencies in the whole world. Offering a future contract whose particularity is that the winnings earned can be cashed in Bitcoin. And not in a fiat currency, as is the case of other futures contracts. This way, you create a product, with the approval of the regulatory institutions americans. What would the income of capital of institutional at the crypto market. Therefore, the same were not provided with a means to invest in a legal manner in cryptocurrencies as the future contracts Bakkt. However, the reception of the contracts has not been at all expected. On the contrary, in this first month of performance, the contracts of Bakkt have remained well below the expectations that arose. Not getting to attract capital and institutional that was intended in the beginning.
Bakkt wide catalog
This situation has led to Bakkt expand the catalog of products on cryptocurrencies offered on the market. Announcing recently the upcoming launch of options on their own contracts. As part of an effort to try to transform a market stagnated. And as part of this effort, I would also be developing an application that allows the use of cryptocurrencies on everyday purchases. To facilitate the use of criptoactivos as a currency of normal use in the procurement of goods and services. “We will launch an application to the consumer to which it can discover and unlock easily the value of the digital assets, as well as the ways in which you can make transactions or keep track of them. Traders have access to a broader set of customers with greater purchasing power.” Commented the COO of Bakkt, Mike Blandina. The application will go on the market in the first half of 2020, according to the company. With what Bakkt would be trying to make a big effort to revitalize their brand and their product after a slow start in the market of Bitcoins. Attracting again the attention of the media on itself. This after the effects generated by the collapse of the price of Bitcoin, thanks to the futures contracts of the Chicago Mercantile Exchange (CME). I stole the foci of attention in these last few weeks. Making the launch of the contracts Bakkt pass without penalty or glory by the crypto community. And it is for this reason that we chose this as our Data of the Day here in CriptoTendencia. Therefore, Bakkt attempts to perform a task titanica: the of attracting capital institutional to a market that desperately needed. Therefore, the result of their efforts will be of great importance for the crypto world. The following two tabs change content below. Student of International Studies, interested in issues of economy and international politics. Passionate about the progress of the Fourth Industrial Revolution in general and the cryptocurrencies in particular.