Bakkt needs staff ahead of highly-anticipated launch

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Bakkt exchange

Bakkt, the digital assets platform being developed by the operators of the New York Stock Exchange, is advertising to fill a number of senior positions.

Blockchain developers are in demand across the world and Bakkt needs to find several – including a Director of Blockchain Engineering.

The company also needs a Director of Security Engineering, Director of Finance, Institutional Sales Executive and a number of other software engineers.

The positions appeared on LinkedIn this morning (Australian time).

According to LinkedIn, the Director of Finance role and the Sales Executive role both had more than 10 applicants within 3 hours of being posted.

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Jobs not the last piece of the puzzle for Bakkt exchange

While software engineers and blockchain developers may help finally bring the institutional-grade futures exchange and clearing house for Bitcoin-focused financial products to life, Bakkt is still waiting on regulatory approval.

Initially Bakkt’s launch was scheduled for November 2018.

It was then pushed back until January 24, 2019, with CEO Kelly Loeffler attributing the delay to the platform’s “volume of interest”.

The launch, however, has now been delayed indefinitely as Bakkt awaits approval from the Commodities Futures Trading Commission (CFTC) for its plan to custody Bitcoin on behalf of clients.

The CFTC is says it expects to provide an update on progress “early in 2019”.

Bakkt exchange
Bakkt CEO, Kelly Loeffler.

Rosenthal Collins Group acquisition

Last week Bakkt announced it had acquired parts of Rosenthal Collins Group, a futures brokerage business.

“In December, RCG announced the sale of all its customer accounts to Marex Spectron, one of the world’s largest commodity brokers,” said Kelly Loeffler in a blog post.

“As part of that transaction, our aim was to purchase certain valuable assets related to developing our platform.

“It will enhance our risk management and treasury operations with systems and expertise. Other aspects of the transaction will contribute to our regulatory, AML/KYC and customer service operations

“This acquisition underlines the fact we’re not standing still as we await regulatory approval by the CFTC for the launch of regulated trading in our crypto markets.”

Earlier this month, Bakkt revealed it raised almost US$200m from 12 investors in its first funding round. Read more here.