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Green Light for Bakkt, Which Means?

Green Light for Bakkt, Which Means?

Recently, Bakkt has released an official post to announce the ‘green light’ received from the New York Department of Financial Services (NYDFS). Bakkt is a well-known firm to offer quality services in Bitcoin and digital assets custody with cutting edge technology.

According to the post, Bakkt Warehouse is now a qualified Bitcoin custodian and able to extend its services to institutional clients globally. Bakkt will be able to cater the needs for institutional clients for their digital asset storage especially Bitcoin. Previously, they only offer their services to traders for Bakkt Bitcoin Futures.

Bakkt Warehouse provides the Bitcoin custody service with exceptional factors especially with their top-grade infrastructure, operational controls and independent oversight for their clients. Bakkt also mentioned that the strong ties developed with Intercontinental Exchange has given them more confidence in addressing the needs of future clients.

Companies such as Pantera Capital, Galaxy Digital and Tagomi are the earliest to utilize the services offered by Bakkt. Additional to the existing names, the company also hinted more firms will be employing their services in near future.

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With this positive signal from the NYDFS, Bakkt will be able to attract more parties to employ their services. Indirectly, it will garner public attention for Bitcoin and maybe to mainstream markets.

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