Singaporean Intercontinental Exchange (ICE) announced its plan to launch the Bakkt Bitcoin (USD) Cash Settled Monthly Futures, the first well-regulated futures platform for cryptocurrencies, on Dec. 9. The International Exchange operates top exchange platforms and clearinghouses. It also provides data and renders listing services for tokens/coins.
Per the new contract, the Bakkt Bitcoin (USD) Cash Settled Monthly Futures will be made live on ICE Singapore and will also be cleared by ICE Clear, in Singapore as well. Both platforms are under the regulation of the Monetary Authority of Singapore (MAS).
Lucas Schmeddes, President & COO of ICE Futures and Clear Singapore, expressed his view about the new contract saying that it has the potential to Asian and global investors an effective and efficient way to make a profit from bitcoin trading by offering a reliable, stable, secure and compliant atmosphere through leveraging ICE markets.
“Our new cash-settled futures contract will offer investors in Asia and around the world a convenient, capital-efficient way to gain or hedge exposure in bitcoin markets. Building off the success of our deliverable futures contract, the cash-settled futures will leverage ICE’s regulated, globally-accessible market to offer a safe, secure, and compliant environment for the trading of bitcoin,” said Schmeddes.
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