Crypto company Bakkt has relaunched its dedicated crypto custody platform, adding support for as many as 6 new tokens, including Dogecoin memecoin (DOGE) and Shiba Inu (SHIB).
Not only that, Bakkt Custody already includes new improved features added, with an interface that will allow it to add more in the future.
Summary
Bakkt Custody adds support for Dogecoin and Shiba Inu and other crypto
Bakkt Holdings, Inc. (NYSE: BKKT) announced that it has relaunched its Bakkt Custody platform, with new features in the crypto arena.Â
And indeed, Bakkt Custody has expanded its support for more crypto assets such as Dogecoin memecoin and Shiba Inu.
In total, as of December, the crypto company’s platform will thus offer support for a total of 8 crypto such as Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, Litecoin, Dogecoin, USD Coin, and Shiba Inu.
In this regard, Gavin Michael, President and CEO of Bakkt, commented as follows:
“These additional assets allow us to cater to clients seeking more fluidity between platforms. We’re pleased to increase our offering in a secure and regulatory-first way.”
Bakkt Custody supports Dogecoin and other cryptos and adds new features
At the same time, the dedicated crypto custody platform, Bakkt Custody offers new and improved features, and a revitalized interface that becomes the basis for enabling the rapid addition of other future features.
Again, Gavin Michael wanted to comment as follows:
“The events of the past year have revealed why qualified crypto custody is so necessary. Bakkt takes pride in being a provider that never co-mingles funds and always puts our client’s security first.Â
With custody as a core anchor product, our team has been working diligently to enhance our platform with infrastructure built to withstand the shifting regulatory environment. We anticipate several future developments as we continue to invest and rollout more advanced features.”
These updates on Bakkt Custody come in conjunction with the platform’s significant progress in Q3 2023 earnings.
In general, Bakkt is managed by Bakkt Trust Company LLC, a NYDFS-qualified custodian bank.
Interest on crypto custody by NASDAQ as well
During this 2023, exactly in March, it seems that NASDAQ (National Association Of Securities Dealers Automated Quotation) would also plan to launch its own crypto custody services.Â
Basically, it seems that the general lack of confidence in the crypto industry has prompted the company to want to get in on the act. Not only that, some crypto stakeholders have also said that NASDAQ’s interest in the sector, precisely demonstrates its maturity.
NASDAQ is a marketplace established on Wall Street on 8 February 1971, and is the first exchange in the world to be exclusively electronic.
NASDAQ’s plan to launch crypto custody services, however, was later suspended over the summer. The main reason is the regulatory complexity regarding the crypto industry in the US. And in fact, the stock market operator decided to postpone its initiative in view of regulatory challenges on crypto in the US. The decision comes to ensure its service’s compliance with current regulations.
