Bitcoin futures exchange Bakkt posesses a new chief product officer. Announced via Medium earlier today, the exchange has added Mike Blandina for their team.

Bakkt Hires New CPO

In previous years, Blandina has worked at PayPal where he served as head of payments and credit engineering. He is also been director of engineering for Google Wallet.

In hottest years, Blandina was chief technology officer and product and engineering at OneMarket. CEO of Bakkt Kelly Loeffler wrote during the blog post:

“As our CPO, Mike will lead our efforts to converge a stable ecosystem for digital assets with payments use cases, two features of Bakkt that help bring real-world applications to bitcoin together with other cryptocurrencies.”

Development

Bakkt is still awaiting regulatory approval so as to launch. There are faced multiple delays already in the initial launch expected last November. However, in Loeffler’s posting, she revealed that “race day is approaching.”?This comment has led some to ponder whether the team has more clarity on its regulatory situation so it has yet to disclose.

She wrote further:

“As an ancient marathoner, this point in time recalls activity is in the training regimen when putting in long runs using your training team […] you will find there’s more work to be done […] I’m proud to always be going the length with this growing team as well as the culture we have been building, while bringing digital assets into your mainstream economy.”

What is Bakkt?

Bakkt?likes to offer a federally regulated niche for Bitcoin, transforming Bitcoin in to a trusted global currency with broad usage.

Its absolute goal is to make Bitcoin a secure offering for that biggest global banking institutions that currently shun it. Bakkt looks to create a path for these particular major money managers to consider Bitcoin pension funds, mutual funds, and ETFs as highly regulated, mainstream investments.

Approval

As stated, Bakkt holds waiting on approval of your US Commodity Futures Trading Commission (CFTC) chatting its Bitcoin futures contract. One major consideration for ones CFTC is that Bakkt’s proposal would look at it warehousing its own Bitcoin. This could be one grounds for delay.