The much-awaited cryptocurrency trading platform Bakkt on 28th August announced that their project, Bakkt Warehouse will start the storage of Bitcoin from September.
All the Bakkt clients will be able to use the Bakkt Warehouse from 6th September onwards. Bakkt Warehouse is the part of Bakkt Trust Company, and it is developed using the same technology and physical security protections which you can see in the New York Stock Exchange.
The storage of Bitcoins will start from 23rd September, which is earlier than the scheduled launch for daily and monthly crypto futures. Bakkt Warehouse will then begin the physical delivery of Bitcoin with end-to-end regulated markets and custody.
Ever since they have announced the launch, the physical delivery of Bitcoins has been the trending topic for the crypto community. The company faced multiple delays in the start of the platform because they were having issues with the compliance of the project.
Physically delivered Bitcoin futures contracts are the type in which the customers are given the actual cryptocurrency once the contract expires. Bakkt settles the Bitcoin futures physically, and this means the client will receive the physical delivery of Bitcoin.