The owner of the New York Stock Exchange launched its long-delayed market for bitcoin futures Sunday, a high-profile bet that consumers, businesses and Wall Street will embrace cryptocurrencies. From a report: Trading in the new bitcoin futures began just after 8 p.m. EDT [Editor’s note: the link may be paywalled; alternative source], with the first trade at $10,115.00, in line with the current price of bitcoin, said a spokesman for the exchange’s parent company, Intercontinental Exchange Futures let traders bet on whether an underlying market such as oil, gold, stocks or currencies will rise or fall. The new futures are part of a venture called Bakkt (pronounced “backed”), whose ultimate goal is to make cryptocurrencies sufficiently transparent and regulated for individuals to use in retail purchases. Bitcoin has failed to gain traction as a tool for payment, in part because of its extreme volatility. If successful, ICE’s futures could make it easier for merchants to protect themselves from swings in bitcoin prices.
of this story at Slashdot.
Source:: Slashdot