Bakkt Finalizes Acquisition of RCG and Continues to Hire Ahead of Launch 10

Bakkt Finalizes Acquisition of RCG and Continues to Hire Ahead of Launch

In a tweet just yesterday, the team at Bakkt announced that they had completed all the necessary proceedings necessary for the firm’s acquisition of the Rosenthal Collins Group (RCG). Bakkt has welcomed its new team members from RCG and looks forward to working with them in building the infrastructure that will support its seamless global platform for the buying, selling, storage and spending of digital assets. The tweet by Bakkt can be found below.

Bakkt’s Acquisition of Rosenthal Collins Group (RCG)

CEO of Bakkt, Kelly Loeffler, informed the investor and crypto communities of the firms acquisition of RCG on the 14th of January this year.  RCG was an independent futures commission merchant with a reputation that spans almost a century. When RCG announced in December that it was selling all its customer accounts to Marex Spectron, Bakkt saw an opportunity to purchase certain valuable assets related to developing its revolutionary platform.

New Hires and Available Positions

According to the Block, Bakkt has welcomed two new executives.

Erik Haas is the new Director of Compliance having made the move from ICE (Intercontinental Exchange) where he spent nine years in its regulation department. Bakkt has also appointed Rachel Ford as its Strategic Operations Manager. Ms. Ford’s previous role was at Techstars.

Further checking the Bakkt website, we find the following advertised open positions.

  • Director of Blockchain Engineering
  • Blockhain Developer
  • Director of Security Engineering
  • Senior Full Stack Engineer
  • Mobile Developer
  • Software Development Engineer in Test
  • Director of Finance
  • Institutional Sales
  • Senior Java Engineer
  • Director Product Engineering

The aforementioned roles are based out of the cities of Atlanta, New York, San Francisco, London, Tel Aviv, Singapore, Hong Kong, Singapore and Tokyo. The distribution of the available jobs shows that Bakkt is indeed global.

No Exact Date for The Launch of Bakkt

Due to the recently paused US Government Shutdown, Bakkt was unable to obtain the necessary regulatory approvals from the CFTC (Commodity Futures Trading Commission) by the proposed launch date of January 24th. The team has therefore promised to update on the launch within the first quarter of 2019.

What are your thoughts on the progress of Bakkt despite not being given the regulatory green-light from the CFTC? Do you believe its launch will be a game changer considering daily futures contracts will be settled in BTC? Please share your thoughts in the comment section below. 

[Feature image courtesy of]

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.