June 18, 2024

Bakkt platform launched Bitcoin secure storage service

Bakkt platform launched Bitcoin secure storage service

Cryptocurrency platform Bakkt announced the launch of custody services for all institutional investorsafter obtaining permission from the New York Department of Financial Services (NYDFS). Previously, the custodial service was available only to those who trade Bakkt Bitcoin Futures.

On its blog, Bakkt described its custodial service, Bakkt Warehouse, as “a critical link in institutional adoption of bitcoin.”

“The secure storage of digital assets requiresintegrated storage approach. Institutional and experienced investors need not only advanced technology. They need proven infrastructure, reliable operational control and independent oversight. ”- reported on the blog.

Among the first to choose Bakkt custodian service as custodian of digital assets are Pantera Capital, Tagomi and Galaxy Digital.

Famous investor and head of Galaxy Digital Mike Novogratz recently noted the launch of Bakkt as a big step in the adoption of bitcoin by institutional investors.

“But more importantly, they have a storage solution ... a world-class custodian service that allows more and more people to feel comfortable”“He said in an interview late last month.

Recall that Bakkt will launch the first regulated futures option on Bitcoin on December 9.