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.