Bakkt Warehouse Now Offering Bitcoin Custody to All Institutions

Siamak Masnavi

On Monday (November 11), Adam White, the Chief Operating Officer (COO) of Bakkt, the crypto custodian and Bitcoin futures exchange subsidiary of Intercontinental Exchange (ICE), declared that qualified custodian Bakkt Warehouse is now offering its Bitcoin custody service to all institutions and not just those trading the Bakkt Bitcoin Futures contracts.

This move comes after Bakkt received permission from the New York Department of Financial Services (NYDFS) to offer this Bitcoin custody service to even those institutions that are not interested in Bakkt's physically-settled daily or monthly Bitcoin futures.

On September 9, the Bakkt COO announced that the Bakkt Warehouse, which had been launched on September 6, was "open for business":

In his blog post, which was published earlier today, White said that Pantera Capital, Galaxy Digital, and Tagomi are three examples of companies storing their bitcoins at the Bakkt Warehouse, and that more "marquee firms" would be onboarded in the next several weeks.

White explained that what made the Bakkt Warehouse special was not the technology on which it was built, but also "extensive physical, operational and cybersecurity safeguards."

Following Bakkt's anouncement, Pantera Capital had this to say:

 

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