The good news just keeps on rolling out of Bakkt!
First it was the bitcoin futures products.
Then it was the announcement of options products coming within the month.
Then it was the consumer app, more of which can be seen here:
https://steemit.com/crypto/@jrcornel/crypto-bakkt-is-about-to-let-you-buy-starbucks-with-bitcoin
And now, it's the expansion of their warehouse service.
Initially, it was only the users of their bitcoin futures products that could take advantage of their warehousing service, but now, they are opening it up to others.
Bakkt is opening its warehousing service up to significantly more clients
Initially, it was only the users of Bakkt's bitcoin futures products that could take advantage of the state of the art custody solutions offered by Bakkt.
Now, it's everyone.
(well everyone of the institutional variety that is)
Today, Bakkt announced that they are expanding the service to other clients.
So far, Pantera Capital, Galaxy Digital and Tagomi have already signed on as initial customers for Bakkt Warehouse and other “marquee firms” are said to be expected to join over the next few weeks.
From Bakkt:
“When investors have ready access to regulated custodians whose security and processes they trust, the full potential of this emerging asset class and technology can flourish."
“While technology provides the foundation by which we securely store customer funds, the Bakkt Warehouse employs extensive physical, operational and cybersecurity safeguards too. Our relationship with Intercontinental Exchange (NYSE: ICE), a Fortune 500 company that owns and operates the market infrastructure upon which the world’s largest financial institutions already rely, enables us to uniquely address client needs in the digital asset custody space.”
(Source: https://www.coindesk.com/bakkt-expands-bitcoin-custody-service-beyond-futures-trading-clients)
Why this matters...
Bakkt is offering a service that parallels those offered to the biggest clients in the biggest markets in the world.
The security being offered is likely rivaled by virtually no one.
This is a very big deal for money managers.
It's hard enough outperforming each year, but it adds a whole other set of problems when you also have to worry about your assets being stolen or hacked.
This is a giant step forward in helping to alleviate that concern.
Not only that but they also beefed up the insurance of their assets.
The details from the release can be seen here:
https://www.coindesk.com/bakkt-expands-bitcoin-custody-service-beyond-futures-trading-clients
Bakkt just keeps on rolling out good news after good news.
Stay informed my friends.
Image Source:
https://cryptonewspipe.com/bakkt-bitcoin-custody-now-available-to-all-institutional-clients/
-Doc