Bakkt Jumps On Crypto Custody Deal With Nexo By Investing.com



By Sam Boughedda

Investing.com — Digital asset platform Bakkt Holdings Inc (NYSE:) saw its shares jump 2.2% Wednesday after it announced a partnership with Nexo, a cryptocurrency-backed loan platform.

The deal will see Bakkt custody cryptocurrency assets in the Bakkt Warehouse, its regulated custodian, which allows for safe and secure storage of Bitcoin and . Nexo will use Bakkt’s Warehouse to safely hold its customers’ and Ethereum.

The Bakkt Warehouse was established in 2019 and contains both online and offline, air-gapped digital asset storage. 

“We recognized that Bakkt’s infrastructure and regulation-first approach to crypto was a natural fit and we’re confident that this partnership will benefit all our clients and expand Nexo’s ability to service the unprecedented institutional demand for cryptocurrencies as well as individuals’ growing transaction volumes,” said George Manolov, Business Development Executive at Nexo.

Bakkt’s share price hit a high of $6.03 on the news. However, it has since given up some of those initial gains.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



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By Sam Boughedda

Investing.com — Digital asset platform Bakkt Holdings Inc (NYSE:) saw its shares jump 2.2% Wednesday after it announced a partnership with Nexo, a cryptocurrency-backed loan platform.

The deal will see Bakkt custody cryptocurrency assets in the Bakkt Warehouse, its regulated custodian, which allows for safe and secure storage of Bitcoin and . Nexo will use Bakkt’s Warehouse to safely hold its customers’ and Ethereum.

The Bakkt Warehouse was established in 2019 and contains both online and offline, air-gapped digital asset storage. 

“We recognized that Bakkt’s infrastructure and regulation-first approach to crypto was a natural fit and we’re confident that this partnership will benefit all our clients and expand Nexo’s ability to service the unprecedented institutional demand for cryptocurrencies as well as individuals’ growing transaction volumes,” said George Manolov, Business Development Executive at Nexo.

Bakkt’s share price hit a high of $6.03 on the news. However, it has since given up some of those initial gains.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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