There were several developments in the crypto capital markets
space this week. ICE Futures U.S. Inc. announced it will list the
Bakkt Bitcoin (USD) Daily Futures Contract on Dec. 12, 2018. This
physical-settled futures contract calls for delivery of one bitcoin
and will trade in U.S. dollars.
Coinbase now offers its customers the ability to trade the USD
Coin stablecoin, which is pegged to the U.S. dollar on the Ethereum
blockchain. The coins are collateralized by corresponding
greenbacks. In similar news, Novatti Group, an Australian online
payments processor, will issue a stablecoin tied to the Aussie
dollar, with 1:1 fiat currency being held in trust.
The New York State Department of Financial Services, the
state's financial regulatory agency, recently announced its
approval of Coinbase Custody Trust Company LLC, a Coinbase Global
subsidiary. Coinbase Trust will be licensed to offer custody
services for bitcoin, bitcoin cash, ether, litecoin and other
virtual