Nexo Taps Bakkt for Crypto Services

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On January 19, Bakkt Holdings Inc introduced a partnership with Nexo, a cryptocurrency-backed mortgage platform, to custody crypto belongings within the Bakkt warehouse. The partnership will see Nexo utilizing Bakkt’s Warehouse to safeguard its prospects’ Bitcoin and Ether holdings. Bakkt warehouse is a regulated custodian, which permits for safe and protected storage of Bitcoin and Ethereum.

Dan O’Prey, the Chief Product Officer, Crypto at Bakkt, acknowledged: “The cryptocurrency market continues to expand at a robust pace, leading reputable crypto companies to diversify custody of assets. We are pleased that Nexo has chosen the Bakkt Warehouse as a trusted solution. As we build upon our partnerships with businesses and expand our network of operations and revenue, secure custody continues to be a pillar of Bakkt’s strategy, leveraging state-of-the-art physical and cyber security, institutional-grade technology and governance, and backed by insurance.”

Meanwhile, George Manolov, Business Development Executive at Nexo, additionally commented: “As a world digital asset establishment, Nexo acknowledges the necessity for a trusted companion to convey an additional degree of safety and credibility to our purchasers’ cryptocurrencies. We acknowledged that Bakkt’s infrastructure and regulation-first method to crypto was a pure match, and we’re assured that this partnership will profit all our purchasers and develop Nexo’s capacity to service the unprecedented institutional demand for
 
 cryptocurrencies 
in addition to people’ rising transaction volumes.”

Nexo Remains Committed to Grow Its Crypto Business

The growth by Nexo to faucet companies being supplied by Bakk comes at a time the crypto firm is dedicated to increasing its institutional service choices by means of a variety of companions. In June final yr, Nexo added Cardano to its choices inside its
 
 buying and selling platform 
. The product enlargement now permits its prospects to buy ADA and get cashback whereas incomes every day curiosity and borrowing in opposition to the cryptocurrency by means of its credit score line product. In September final yr, Nexo was audited by Armanino to offer real-time updates regarding its asset-customer legal responsibility threshold. In November final yr, Nexo made a strategic funding in Texture Capital Holdings Corp, an SEC-registered broker-dealer. The crypto agency thought-about the funding into the regulated broker-dealer as necessary as it will broaden its compliance capabilities and merchandise to US prospects.

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On January 19, Bakkt Holdings Inc introduced a partnership with Nexo, a cryptocurrency-backed mortgage platform, to custody crypto belongings within the Bakkt warehouse. The partnership will see Nexo utilizing Bakkt’s Warehouse to safeguard its prospects’ Bitcoin and Ether holdings. Bakkt warehouse is a regulated custodian, which permits for safe and protected storage of Bitcoin and Ethereum.

Dan O’Prey, the Chief Product Officer, Crypto at Bakkt, acknowledged: “The cryptocurrency market continues to expand at a robust pace, leading reputable crypto companies to diversify custody of assets. We are pleased that Nexo has chosen the Bakkt Warehouse as a trusted solution. As we build upon our partnerships with businesses and expand our network of operations and revenue, secure custody continues to be a pillar of Bakkt’s strategy, leveraging state-of-the-art physical and cyber security, institutional-grade technology and governance, and backed by insurance.”

Meanwhile, George Manolov, Business Development Executive at Nexo, additionally commented: “As a world digital asset establishment, Nexo acknowledges the necessity for a trusted companion to convey an additional degree of safety and credibility to our purchasers’ cryptocurrencies. We acknowledged that Bakkt’s infrastructure and regulation-first method to crypto was a pure match, and we’re assured that this partnership will profit all our purchasers and develop Nexo’s capacity to service the unprecedented institutional demand for
 
 cryptocurrencies 
in addition to people’ rising transaction volumes.”

Nexo Remains Committed to Grow Its Crypto Business

The growth by Nexo to faucet companies being supplied by Bakk comes at a time the crypto firm is dedicated to increasing its institutional service choices by means of a variety of companions. In June final yr, Nexo added Cardano to its choices inside its
 
 buying and selling platform 
. The product enlargement now permits its prospects to buy ADA and get cashback whereas incomes every day curiosity and borrowing in opposition to the cryptocurrency by means of its credit score line product. In September final yr, Nexo was audited by Armanino to offer real-time updates regarding its asset-customer legal responsibility threshold. In November final yr, Nexo made a strategic funding in Texture Capital Holdings Corp, an SEC-registered broker-dealer. The crypto agency thought-about the funding into the regulated broker-dealer as necessary as it will broaden its compliance capabilities and merchandise to US prospects.

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