Kelly Loeffler, the CEO in Bakkt, an electronic asset focused firm established by Intercontinental Exchange (ICE), the owner of the New York Stock Exchange (NYSE), the world's biggest stock market with a market cap of over $30 trillion, has shown that Mike Blandina, a former PayPal and Google executive has joined Bakkt as Chief Product Officer.
In a blog article printed by Bakkt's official Medium accounts on April 11th, Loeffler wrote that “the most important aspects of building Bakkt [aren't] technological.” She considers that having qualified employees onboard can help the company build innovative products “from the ground up.”
Loeffler also noted that Blandina's function as CPO in Bakkt will entail leading the company's “efforts to converge a trusted ecosystem for digital assets with payments use cases.” She clarified that these are both important components that Bakkt targets, to be able to”bring real-world program” into Bitcoin (BTC) along with other cryptoassets.
Based on Bakkt's statement, Blandina has “more than 25 years of experience in payments across product, engineering, strategy and operations.” His latest role, before linking Bakkt, included working with OneMarket, since the organization's Chief Technical Officer (CTO).
Regarding the firm itself, Loeffler confessed that Bakkt is now in a state of limbo since it expects regulatory approval to start, but likened the business's advancement into a marathon.
“As a former marathoner, this point in time recalls the stage in the training regimen when you’re putting in long runs with your training team,” she wrote.
Bakkt still doesn't have an official release date after several flaws, though Loeffler suggested that the market may provide more clarity shortly, composing “race is coming.”
“There is more work to be done,” she said. “I’m proud to be going the distance with this growing team and of the culture, we are building, while bringing digital assets into the mainstream economy.”
The company is currently awaiting acceptance in the U.S. Commodity Futures Trading Commission (CFTC) to record its bitcoin futures contract. Bakkt's proposal could have it warehouse its bitcoin, which might be an element in this delayed acceptance.
That being said, Loeffler seemed writing:
“We are mindful that the infrastructure we are building has the potential to create more opportunities for digital assets to grow in relevance and trust — by being more secure, investible and useful.”