Li Ka-Shing To Invest In Bakkt – Bakkt got its first-ever funding by a well-known billionaire. It is said to be a huge amount of investment for Bakkt. It is a cryptocurrency platform backed by ICE (Intercontinental Exchange) located in Atlanta, US. A billionaire from Hong Kong, who is also one of the wealthiest men on the planet, Li Ka-Shing, has chosen Bakkt as an investment.
First Ever Huge Investment
Li Ka-Shing To Invest In Bakkt – Bakkt got a fantastic as well as memorable start for the new year by completing its first round of funding for around $180 million. However, the total of $180 million flew out from major multinational companies like Boston Consulting Group, Microsoft’s Venture Capital Arm M12 and Nasper’s fintech company Payu. The New York Stock Exchange has played a major role in getting investments from these big venture capital investors.
Horizon Ventures Limited, founded by Li Ka Shing has a major investment. It is a venture capital firm based in Hong Kong. Li Ka Shing, who is among the richest people of the world, however, has seemed interested in investing in tech startups for almost a decade now. He also invested in Bitpay (Bitcoin payment software) and Bitstream.
Bakkt has shown its potential by launching a digital asset platform. Investment from major institutional investors bought more recognition to Bakkt in the cryptocurrency market and reduced the risk of crypto market volatility.
Bakkt stands apart by kicking its competitors through its unique service of delivering crypto features physically. CME and CBOE, known rivals of Bakkt, exchange their contract in fiat. ICE’s clearinghouse and US-based exchange firm will warehouse Bakkt’s.
Bakkt is all set to launch its first contract on 24th January 2019. Due to regulatory glitches, it postponed its launch from November 2018 to January 2019. US commodity Trading Commission still has to approve the Bakkt’s regulatory application.