Bakkt Bitcoin Futures Exchange, Hires PayPal, Google Expert as their Product Head
Bakkt, the Bitcoin Futures Exchange has added to its bag a former PayPal and Google expert who takes over as the exchange service provider’s Chief Product Officer.
While making the announcement on April 10, Bakkt says is has acquired the services of Mike Blandina who has previously worked for PayPal ad the head of payments and credit engineering and Googles director of engineering in charge of the Google’s native wallet.
Before getting the Bakkt nod, Mike was working at OneMarket as the chief technology officer and head of product and engineering. While welcoming the new CPO, Bakkt CEO, Kelly Loeffer said in a blog:
“As our CPO, Mike will lead our efforts to converge a trusted ecosystem for digital assets with payments use cases, two elements of Bakkt that help bring real world applications to Bitcoin and other cryptocurrencies.”
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Tough Times Ahead for Bakkt
The CEO, however, admits that Bakkt is in a state of uncertainty as it patiently waits for regulatory approval to launch is services. She likens the firm growth to the marathons and writes:
“As a former marathoner, this point in time recalls the stage in the training regimen when you are putting in long runs with your training team.”
As much as the Bitcoin Futures exchange is gearing to go, it does not have a set launch date. The platform has been postponing its lunch timeline but Loeffer says they are about to clarify the situation and added that “the race day is approaching” and adds:
“There is more work to be done. I am proud to be going the distance wit this growing team and of the culture we are building, while bringing digital assets into the mainstream economy”.
Will Bakkt Long Wait Bear Fruits?
At press time, the Bitcoin Futures exchange is still awaiting the US Commodity Futures Trading Commission (CFTC) nod. Once this is done, Bakkt will be able to list Bitcoin Futures contract in its crypto portfolio. Bakkt proposal argues that they will have their native Bitcoin warehouse and this could be the reason why the CFTC is taking time to approve.
However, the delay has no dampened Loafer’s’ dream as she continues to write:
“We are mindful that the infrastructure we are building has the potential to create more opportunities to digital assets to grow in relevance and trust-by being more secure investible and useful”.