RATE Group | Bakkt Rolls Out ‘Critical’ Bitcoin Custody After NY Gives Green Light
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Bakkt Rolls Out ‘Critical’ Bitcoin Custody After NY Gives Green Light

11 Nov Bakkt Rolls Out ‘Critical’ Bitcoin Custody After NY Gives Green Light

Posted at 16:07h in Bitcoin News by

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Institutional Bitcoin (BTC) trading platform Bakkt has announced it has launched its custody feature for its entire client base following regulatory approval.

Bakkt: custody is “critical link” in BTC adoption

In a blog post on Nov. 11, Bakkt said it had received the go-ahead from the New York Department of Financial Services (NYDFS) to offer custody services to any institution. Previously, the option was only available for those trading its Bitcoin futures.

Commenting on the release, Bakkt described the custody tool as “the critical link in the institutional adoption of Bitcoin.”

“Safely storing digital assets demands a comprehensive approach to custody. Institutions and sophisticated investors need more than cutting-edge technology. They require proven infrastructure, robust operational controls, and independent oversight,” the blog post added.

Investors eye price reaction

As Cointelegraph reported, the wider cryptocurrency sphere has keenly eyed the appearance of custody…

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