Bakkt CEO Believes That A Crypto Revolution Is Approaching After Hiring Former Coinbase Vice President
The CEO is Intercontinental Exchange Exchange’s ICE forthcoming crypto trading platform Bakkt made a bold statement.
She said that she wants to deliver a revolution in the industry just like it happened with energy trading 15 years ago.
Bakkt hired former Coinbase vice president
It was recently reported that Bakkt hired former Coinbase vice president Adam White as COO.
Now, Kelly Loeffler spoke to Fortune, and she forecast a revolution in the crypto space.
Bakkt platform is set for launch next month, and it has already generated massive interest since its announcement made back in July.
“The digital market is fragmented like the energy market in the early 2000s. ICE was the pioneer attracting more and more institutions to trade energy, which is what created today’s liquid market,” she told the publication.
She continued and highlighted that “We’re about to see a revolution on the same scale in cryptocurrencies.”
Bakkt will avoid unpopular leveraged trading products
The platform will also avoid non-custodial trading products for its institutional investors base which has been continually increasing.
Loeffler also highlighted a suite of features and added that “These points should also eliminate misconceptions regarding commingling, leverage, and rehypothecation, which are not features of our offering.”
Coinbase also wants to attract the institutional market
The platform launched its Coinbase Pro platform earlier this year and also confirmed that it would build its functions with new crypto assets.
On the other hand, Coinbase also seems to be expanding really fast, and now its operations are reaching Dublin, Ireland.
The platform’s user base in the EU has been rapidly growing, and according to reports, the number of Coinbase customers in the EU has outpaced any other market.
The exchange chose Dublin to expand its services in London and also to host brand new business functions.
The exchange will be focusing on customer support, and as a result, it posted a few listings for personnel in Dublin.
Ex-CMO of Intercontinental Exchange (ICE), Loeffler is now the CEO of Bakkt, a subsidiary of ICE, focused on increasing institution and merchant access to digital assets. Having launched its Bitcoin Futures in Sep 2019, Bakkt reached an all-time monthly high of $37M within the first month. Prior to her 15 years at ICE, Loeffler served on the Board of Directors for Georgia Power Company.
Coinbase is a digital currency exchange headquartered in San Francisco, California.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.