Bakkt announced that now they have all the needed papers from New York regulators to operate with institutional Bitcoin custody contracts.
The venture hopes that with top guards surrounding the warehouse, security cameras, and iron doors, it will make the vault unbreakable. Bakkt is already setting the all-time highs with cryptocurrency trading. That’s why it will facilitate pentesters and third-party auditors to avoid hacks and other dangers at all costs.
In the past, clients were able to trade Bitcoin futures. But only that. After receiving approval from the NYDFS, Bakkt sets everything to change. Now, accredited investors from all over the planet can call Bakkt to buy Bitcoin custody services with premium features.
Galaxy Digital, Tagomi, and Pantera Capital already signed up for the offer and will trust their coins with Bakkt’s insurance and warehouse offers.
Technology needs something that will impress sophisticated people from higher investment circles. People with a large amount of cash like predictable markets. They don’t appreciate volatility or weak security that is essential for online exchanges and OTC trading. More than that, many of the venture investors don’t want to show off their names. People controlling all those pesky crypto exchanges usually have no names and no addresses, why should one disclose his credentials?
With Bakkt, customer’s funds are stored within a special vault containing a dedicated network. Read More...