Stock Groups

Bakkt Jumps On Crypto Custody Deal With Nexo -Breaking

[ad_1]


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.

Bakkt Warehouse will be Bakkt’s custodian. This allows safe and secure storage for Bitcoin and other cryptocurrency. Nexo will store its Ethereum and customers’ Bitcoins in Bakkt’s Warehouse.

Bakkt Warehouse is an online and offline digital asset storage that was created in 2019. 

“We recognised that Bakkt’s crypto-regulation-first approach and infrastructure was a good fit, and we are confident that this partnership can benefit all of our clients. It will also expand Nexo’s capacity to serve the unprecedented institutional demand and individuals’ increasing transaction volumes.” said George Manolov (Business Development Executive at Nexo).

Bakkt saw its share price reach $6.03, according to the news. But, some of the initial gains have since been lost.

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs include stocks, futures, indexes and Forex. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses that you may incur due to the use of these data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information. This includes data including charts and buy/sell signal signals. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.

[ad_2]