As we know Bakkt aims to create the first institutional crypto exchange and custody for physically delivered crypto assets.
In an announcement today on their Medium channel they announced that they are acquiring assets from Rosenthal Collins Group (RCG), and members RCG are entering the Bakkt team:
We’re pleased to share that we have entered into an agreement to acquire certain assets of Rosenthal Collins Group (RCG), an independent futures commission merchant
— Bakkt (@Bakkt) January 14, 2019
“To advance that effort, I’m pleased to share that we have entered into an agreement to acquire certain assets of Rosenthal Collins Group (RCG), an independent futures commission merchant with nearly 100 years of earning clients’ trust. In December, RCG announced the sale of all its customer accounts to Marex Spectron, one of the world’s largest commodity brokers. As part of that transaction, our aim was to purchase certain valuable assets related to developing our platform. We expect to close the transaction in February, and are excited to welcome members of the RCG team to Bakkt.” the announcement said
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While Bakkt is waiting for approval, they are having interesting developments. On 31 December 2018, they announced that: Bakkt has completed the first round of funding of $182.5 million
According to their last announcement, Bakkt will launch on 24 January 2019.
The crypto community is expecting that Bakkt will bring institutional money into crypto markets increasing the demand and helping with mass adoption.
What are you thoughts in the matter? Post your opinion in the comments below.