Bakkt custodial service now available for global investors

The platform for trading cryptocurrency derivatives Bakkt announced that the qualified custodian of bitcoin known as Bakkt Warehouse was made available to all institutional investors around the globe. Previously, only clients trading the Bakkt Bitcoin Futures contracts were able to use the service. 

The company obtained an authorization from the New York Department of Financial Services (NYDFS) that allows offering bitcoin custody to all institutions.

"Safely storing digital assets demands a comprehensive approach to custody. Institutions and sophisticated investors need more than cutting-edge technology. They require proven infrastructure, robust operational controls, and independent oversight," Adam White, chief operating officer at Bakkt, wrote in a blog post. 

Pantera Capital, Galaxy Digital, and Tagomi are among the first customers that made Bakkt Warehouse their preferred custodian service for the digital assets. In the coming weeks, the company will add more customers to its custody offering.

The company emphasizes the technological advantages of Bakkt Warehouse that employs extensive safeguards to ensure safety if customers assets. 
 

"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."

Notably, the company launches regulated bitcoin options on December 9. Apart from that, it plans to launch an app for retail users.