The operator of New York Stock Exchange(NYSE) and opetator of many other exchanges, Intercontinental exchange wants to create a global, open and regulated exchange for bitcoin that is cloud based. This exchange named Bakkt will work alongside with several other big companies like Microsoft, Starbucks and others.
The initiative is to allow merchants, consumers and institutional investors come together so as to allow spending, selling and acceptance of bitcoin easily. This will enable a global ecosystem for cryptocurrency use. Analysts are saying this would open doors for institutional investors and it might cause a strong uprise price for bitcoin.