Launch of the Bakkt Exchange Delayed to Later in 2019
By Luke Flowers – Cryptocurrency Dealer
The Chief Executive Officer (CEO) of Intercontinental Exchange (ICE), Jeff Sprecher, has announced delaying the launch of their digital asset platform, Bakkt. The launch has been pushed back to later in 2019 after disclosing financial results of Q4 and 2018 which resulted in the company spending over $1 Billion on strategic initiatives.
ICE is the parent company to the New York Stock Exchange (NYSE) and operates in 23 leading global exchanges. Bakkt is to be separate to ICE functioning independently with its own staff but backed by ICE’s infrastructure and technology to seamlessly buy and sell crypto.
The Bakkt exchange was reportedly approach by Starbucks for a partnership amongst other big-name companies to provide their customers with a means of making purchases using crypto. Users will be able to utilise the partnership to cash out crypto for daily purchases as the platform will be the means of exchange converting crypto to cash. Starbucks and any other businesses looking to utilise the platform will not expose themselves to the price volatility of the asset.
Bakkt are hoping to create a secure global platform to connect merchants, investors and consumers for a simple, fast and cost-effective way to buy and sell cryptocurrency. The platform has a strong focus on meeting all applicable regulatory requirements whilst bringing trust and efficiency to the commercial trading of digital assets.
You can already exchange Bitcoin or sell EOS through our platform as well as many others so take a look today.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards