Nexo becomes a new partner of Bakkt, which is one of the top digital assets networks. The companies will now maintain client’s cryptocurrencies such as Bitcoin and Ethereum in Bakkt Warehouse. The rapid growth of the cryptocurrency market has made many companies expand their care of assets. As a result, Bakkt has seen robust demand from customers.
Dan O’Prey, the company’s Chief Product Officer, noted that secure custody is a core component of Bakkt’s strategy. As a leading digital assets institution, Nexo recognizes the need for a reliable associate that can provide added safety and authority to their clients’ cryptocurrencies. Through this partnership, Bakkt will help expand Nexo’s reach and services to the growing number of individuals and institutions wanting to hold digital assets.
The Bakkt Warehouse is a distributed digital asset storage platform that consists of both online and offline air-gapped storage. Its secure wallet architecture and multi-zone physical security features help protect users’ assets. Bakkt Trust Company and Bakkt Marketplace are both registered as Money Service Businesses with the New York State Department of Financial Services.