The start date is about a month later expected. CEO Kelly Loeffler said Bakkt would start “onboarding” traders in November, pending regulatory approval, when she announced recently that Coinbase official Adam White would be joining Bakkt as chief operating officer.
Bakkt was created to be a “regulated ecosystem” that provides protection for institutional investors who want to get exposure to cryptocurrency.
Bakkt already faces competition from another mainstream financial institution, Fidelity, that promises the same protection. Also working to capitalize on investor interest in cryptocurrency trading are Goldman Sachs and Morgan Stanley.