{"id":366962,"date":"2018-12-31T15:51:43","date_gmt":"2018-12-31T15:51:43","guid":{"rendered":"https:\/\/wncen.com\/?p=366962"},"modified":"2020-10-07T11:27:30","modified_gmt":"2020-10-07T11:27:30","slug":"bakkt-funding","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bakkt-funding\/","title":{"rendered":"Bakkt Completes First Round of Funding – Raises $182.5 Million"},"content":{"rendered":"
The much-anticipated<\/a> Bakkt<\/a> platform being launched by the Intercontinental Exchange has rounded off 2018 by announcing the completion of its first round of funding. The total amount raised from the 12 partners and investors is $182.5 million.<\/p>\n The list of those contributing capital to the project includes Boston Consulting Group, CMT Digital, Eagle Seven, Goldfinch Partners, Alan Howard, Horizons Ventures, the ICE itself, Microsoft’s venture wing, M12, Pantera Capital, PayU, and Galaxy Digital<\/a>. Bakkt was also keen to acknowledge that all those involved “believe in the future of digital assets.”<\/p>\n The news that the Bakkt project has completed its first round of funding broke via the firm’s CEO’s\u00a0Medium<\/a> account. After proudly declaring the amount raised and the list of funding, Kelly Loeffler detailed the progress that has been made by the company in 2018 and what is to come in 2019.<\/p>\n She began:<\/p>\n “Our work today is centred on driving institutional access for digital assets, along with merchant and consumer uses, and we\u2019re already expanding on this vision, collaborating with great companies like Starbucks in these efforts.”<\/p><\/blockquote>\n The post goes on to detail the plans Bakkt has to create an institutional “one stop shop” for cryptocurrency<\/a>. This will include the world’s first ever fully regulated exchange, clearing, and warehousing service for physical delivery of futures.<\/p>\n Bakkt is currently awaiting regulatory approval for all this. However, as mentioned in the Medium post, every effort has been made to remain compliant with the Commodity Futures Trading Commission. This has involved close work between the two entities. In the meantime, new clients continue to join the waiting list to use the Bakkt service and the post’s author welcomes them.<\/p>\nBakkt Not Phased by 2018 Bear Market<\/h2>\n