ICE’s cryptocurrency trading platform, Bakkt, has raised $182.5 million during the first round of funding.
Investors in the funding round included Boston Consulting Group, CMT Digital, Eagle Seven, Galaxy Digital, Goldfinch Partners, Alan Howard, Horizons Ventures, Intercontinental Exchange, M12 (Microsoft’s venture capital arm), Pantera Capital, PayU (Naspers’ fintech arm), and Protocol Ventures.
“Our work today is centered on driving institutional access for digital assets, along with merchant and consumer uses, and we’re already expanding on this vision, collaborating with great companies like Starbucks in these efforts,” said Bakkt CEO Kelly Loeffler in a Medium post. “We are focused on opportunities to provide new infrastructure, including the industry’s first institutional grade regulated exchange, clearing and warehousing services for physical delivery and storage.”
“We’re focused on the work required, both near- and long-term, to evolve the applications for digital assets. Market quality, regulation, scale, security and utility are critical for establishing a strong foundation where innovation can flourish. Our first step is to establish the trust and infrastructure that builds confidence and grows participation at the institutional and merchant level. This is work that needs to be done, and we are excited to be part of this effort on a global scale as 2019 begins,” added Loeffler.