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Bakkt Completes $182.5 Million Funding Round From Investors ...
Bitcoin

Bakkt Completes $182.5 Million Funding Round From Investors Including Microsoft

NYSE Operator’s Platform Bakkt finalises a $182.5 Million funding round CEO, Kelly Loeffler announced in a Medium post yesterday.

She wrote that they:

“have completed our first round of funding of $182.5 million from 12 partners and investors who, like us, believe in the future of digital assets.”

The investors reads like a whose who of big name investors:

“The partners and investors in the first round include Boston Consulting Group, CMT Digital, Eagle Seven, Galaxy Digital, Goldfinch Partners, Alan Howard, Horizons Ventures, Intercontinental Exchange, Microsoft’s venture capital arm, M12, Pantera Capital, PayU, the fintech arm of Naspers, and Protocol Ventures.”

The status quo remains unchanged for Loeffler despite the prolonged bear market that characterized the cryptocurrency space in 2018. The company intends to continue its drive for proper onboarding of clients, as well as, collaborating with relevant business partners. She noted in the announcement that the company is working with United States regulators — namely the  Commodity Futures Trading Commission (CFTC) — to obtain:

“regulatory approval for physically delivered and warehoused bitcoin. We have filed our applications and the timing for approval is now based on the regulatory review process. You may have seen the recent Wall Street Journal article — “First Futures Contract to Pay Out in Bitcoin Poised for Green Light” — noting Bakkt’s ongoing work with the CFTC.”

Many crypto commentators have remarked on Bakkt’s coming launch as a major factor that will help crypto markets grow rapidly and may mark 2019 as they year crypto leaves the bear market behind.

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