There were reports that the parent company Bakkt, The Intercontinental Exchange (ICE), has been discussing a takeover issue with the eBay e-commerce platform. ICE released statement, which said that the negotiations had stopped, but it was not said whether they would start again.
The Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, released an official statement saying its talks with e-commerce giant eBay had ended after a Wall Street Journal report that the two companies were in talks.
WHOA.
The owner of the New York Stock Exchange is thinking about taking over eBay at a valuation of more than $ 30 billion.
This is the same company that realized the importance of Bitcoin enough to start Bakkt.
Would be incredible to combine NYSE, Bakkt, & eBay under one roof.
- Pump 🌪 (@APompliano) February 4, 2020
Well-known figures in the cryptocurrency space, such as Morgan Creek's partner, Anthony Pompliano, also suggested that a combination of these objects would have huge consequences.
Founded in 2000, ICE is a Fortune 500 company that provides a variety of services, including operating exchanges, clearing houses and information services related to investment, trading and risk management.
The relevance to cryptocurrencies comes from the fact that ICE is the company behind Bakkt, an institutional investment firm that offers several products, including bitcoin futures and options. Futures are contracts that allow users to buy assets at a specified price at any time in the future.
Bakkt volumes are growing rapidly
In early February, Bakkt showed an increase in open interest in bitcoins by 114% in just a week, which is a sign that new customers who have been growing since the end of last year are entering the market. However, the volume of options for bitcoins from Bakkt reached a minimum, showing zero volume by the end of January.
Futures, the form of derivatives, show quite healthy growth, but in general, cryptocurrency derivatives are at a tipping point, and decentralized financial space (DeFi) is growing from year to year. The total amount of funds currently locked in DeFi is approximately 920 millionalmost four times more than at the same time last year.
Can Bitcoin Integration Be on an E-Commerce Platform?
Given the excitement of investing in Bitcoin and Bakkt's participation, talk of a possible integration of Bitcoin and cryptocurrencies will inevitably follow this unsuccessful takeover bid. The e-commerce space is an ideal cryptocurrency application because it can lower commissions, not to mention encouraging sellers on the platform by giving them access to a currency that could potentially grow several times over the next years.
Nevertheless, it seems that investors will have to wait until something like this materializes, but there is no doubt that this can be beneficial both for ICE and its subsidiaries and end users on e-commerce platforms.