EXMO Exchange CEO Says ICE’s Bakkt Will Provide Liquidity to the Bitcoin Market

The CEO of the cryptocurrency exchange EXMO, Sergey Zhdanov, seems very positive about the launching of the Bakkt platform. According to him, Bakkt will be providing liquidity to the market and allow it to keep maturing.

The EXMO crypto exchange is located in the United Kingdom and is one of the largest of its kind in Europe. At the moment it has around 1.5 million users and it handles a trading volume of $1.5 billion.

In a recent interview released on its Medium channel, the CEO of the exchange shared his point of view regarding the upcoming events in the cryptocurrency market. One of the things he suggested is that with the release of Bakkt, there will be more interest from institutional investors. Bakkt is a platform that is being created by the Intercontinental Exchange (ICE) and that would allow institutions to gain exposure to virtual currencies.

Mr. Zhdanov is also convinced that regulations are also going to stimulate the market. During the last years, the cryptocurrency market grew at very fast rates but the regulatory environment lagged behind. Now, regulatory agencies are starting to enter the space trying to regulate the activities conducted by crypto and blockchain companies.

He went on saying that with Bakkt, there will be more liquidity in the market and it will allow interested investors to have access to trade futures and options. Furthermore, this increase in interest from institutions will be a great success for the whole space.

If governments start implemented regulations, and the market minimizes the risks associated with Bitcoin and virtual currencies, these digital assets could start growing once again.

Finally, he talked about the crypto hype that the market experienced back in 2017 when Bitcoin (BTC) and other virtual currencies were reaching their all-time highs. He explained that we currently are in a stage of consolidation. Smell players are leaving the space due to the falling profits, which can be seen in the current prices compared to a year ago.

According to the Toshi Times, the Bakkt platform will be launched later in 2019 after Jeff Sprecher, the CEO of the Intercontinental Exchange, announced they will be delaying the official release of the platform once again.

Publication date: 
02/12/2019 - 21:12