Bakkt, an up-and-coming crypto custody and trading platform, has announced a major shift in its focus. The U.S.-based company is now changing its focus back to digital asset custody, and has added support for six new 11 digital assets, including Ethereum-based tokens, Ripple, Dash, and Bitcoin Cash, among others.
The new additions to its supported assets brings the total to 12, joining Bitcoin, which has previously been supported by Bakkt. The company has also partnered with several providers, including Prime Trust, one of the largest regulated digital asset custodians in the world, and Coinbase Custody, a major cryptocurrency custodial platform owned by Coinbase.
The move by Bakkt is intended to cement its commitment to providing customers with secure, regulated custody solutions for digital assets. Bakkt CEO Kelly Loeffler described how the company’s new focus reflects that “trust, security, and compliance are core to our mission,” and hopes that the new additions will “provide more choice to our customers around the world.”
Bakkt is hoping that the new services will give institutional investors more confidence when investing in digital assets, as regulatory clarity is still lacking in many markets. With its partnerships with leading providers, Bakkt is on its way to become one of the key players in the digital asset custody space.