Bakkt, the digital asset marketplace, has announced the relaunch of its Bakkt® Custody services. The relaunch comes with additional functionality and expanded asset support. The company has shifted its focus to custody services and has added support for popular cryptocurrencies like Dogecoin and Shiba Inu coins.
This move is seen as a strategic decision to cater to the growing demand and popularity of these digital assets. Bakkt’s custody service was initially launched to provide institutional investors with a regulated custody solution. With the relaunch, Bakkt aims to offer a more comprehensive and secure platform for users to store their digital assets.
How Bakkt is Expanding its Digital Asset Marketplace
The expanded asset support includes not only Dogecoin and Shiba Inu coins but also a wide range of other cryptocurrencies. This expansion is expected to attract a broader user base and meet the diverse needs of the crypto community.
In addition to the expanded asset support, Bakkt has also introduced additional functionality to its custody services. While the specifics of these new features have not been detailed, they are expected to enhance the user experience and provide more flexibility for users.
The relaunch of Bakkt’s custody services marks a significant step in the company’s growth strategy. By focusing on custody services and expanding asset support, Bakkt is positioning itself as a leading player in the digital asset marketplace.
Bakkt is taking measures to bolster its cryptocurrency custody services by forging new alliances. As per the firm’s quarterly report, Bakkt has plans in the pipeline to provide clearing and custodial services for the crypto exchange EDX Markets, which is backed by Wall Street.
Initially, Bakkt will serve as a standby qualified custodian. The company’s custodial services have also attracted new clientele, including Bitcoin platform Unchained and LeboBTC, a consultancy firm that provides advice on cryptocurrency to institutional investors.
The relaunch of Bakkt’s custody services with additional functionality and expanded asset support is a strategic move by the company. It not only caters to the growing demand for popular cryptocurrencies like Dogecoin and Shiba Inu coins but also provides a secure and comprehensive platform for users to store their digital assets.