Intercontinental Exchange CEO: Bakkt Will Launch Later This Year

Ana Berman’s original article for reduced by 56%

The CEO of the Intercontinental Exchange expects the firm’s digital asset platform Bakkt to launch later in 2019.

The comment was made by ICE CEO Jeff Sprecher during an earnings call Thursday, Feb. 7.

The call was dedicated to ICE’s financial results for Q4 and the full year of 2018.

ICE operates 23 leading global exchanges, along with the New York Stock Exchange.

“And finally, our investment in Bakkt will generate $20 million to $25 million of expense based upon the run rate in the first quarter. We will update you on progress at Bakkt and the level of investment as we move through the year.”

“So it’s a bit of a moonshot bet and it’s been organized in a manner that is very different than the way ICE typically does businesses They’re well along in building out an infrastructure that I think you’ll see launch later this year.”

ICE first announced the launch of its digital asset platform in August 2018.

Ana Berman’s original article for reduced by 56%
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