Custody approved Bakkt

The Bakkt company announced the launch of a new custody function for all its clients after obtaining the approval of the necessary regulations.

 Custody approved Bakkt

On November 11, in a blog post, Bakks said the New York Department of Financial Services approved the regulations that allow the company to offer its clients custody services to any institution. Prior to approval, Bakkt could only offer custody services for futures that were traded within its platform.

In their blog post they reported that “The secure storage of digital assets requires a comprehensive approach to custody. Sophisticated institutions and investors need more than cutting edge technology. They require proven infrastructure, robust operational controls and independent supervision.”

On the other hand, Bitoin de Bakkt futures have increased their volume during the last days, trading around 15 million dollars per day.