Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, is making a big move. Together with Microsoft and Starbucks it is launching a new digital asset platform which promises to be revolutionary.
The company’s name will be Bakkt and it “will hold and manage people’s cryptocurrency.” It will be led by Kelly Loeffler who also happens to be ICE’s CEO Jeffrey Sprecher’ wife. Its core will be Microsoft cloud tech and it will allow converting BTC to US dollars and other fiat currencies. The creators chose Bitcoin due to its high liquidity.
Starbucks, the renowned coffee chain, and Boston Consulting Group are also reportedly joining in. ” Starbucks will leverage the platform to allow their customers to use digital assets at their coffee shops,” writes Nordic Business Insider.
“In bringing regulated, connected infrastructure together with institutional and consumer applications for digital assets, we aim to build confidence in the asset class on a global scale, consistent with our track record of bringing transparency and trust to previously unregulated markets,” said ICE’s CEO Jeffrey Sprecher in a statement.