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NYSE owner's Bakkt platform secures $183M in funding

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NYSE owner's Bakkt platform secures $183M in funding

Bakkt, a digital assets trading and conversion platform launched by New York Stock Exchange parent company Intercontinental Exchange Inc., completed its first round of funding, raising $182.5 million from 12 partners and investors.

Bakkt plans to physically deliver bitcoin futures contracts and has filed an application for approval with the Commodity Futures Trading Commission. ICE is working with Starbucks Corp. and Microsoft Corp., among other companies, to allow users to not only trade in cryptocurrencies but also spend the digital assets.

The Boston Consulting Group Inc., CMT Digital Holdings LLC, M12 and PayU, among others, participated in the funding round.