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Bakkt is reportedly preparing for a Q3 launch, but other information suggests the company still needs NYDFS approval.
Bakkt, a Bitcoin (BTC) futures platform still in development, is purportedly closing in on a Q3 launch date.
An anonymous source close to the company reportedly shared this information with blockchain and crypto news publication The Block, according to a report on July 26.
However, The Block says it has received a copy of a slide-deck indicating that Bakkt still needs the New York Department of Financial Services (NYDFS) to approve its warehousing service — the company’s proposed cold storage solution for safely storing private keys. According to the report, gaining approval from the NYDFS would give Bakkt permission to operate as a limited-purpose trust company.
Cointelegraph’s requests for comment from Bakkt’s operator, Intercontinental Exchange, have not been answered as of press time.
Bakkt roadmap: predictions and delays
As previously reported by Cointelegraph, Fundstrat’s managing director and quant strategist also published a Twitter post on July 19 showing that the company predicts a launch in Q3.
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