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By Sam Boughedda
Investing.com — Digital asset platform Bakkt Holdings Inc (NYSE:) noticed its shares bounce 2.2% Wednesday after it introduced a partnership with Nexo, a cryptocurrency-backed mortgage platform.
The deal will see Bakkt custody cryptocurrency property within the Bakkt Warehouse, its regulated custodian, which permits for secure and safe storage of Bitcoin and . Nexo will use Bakkt’s Warehouse to securely maintain its clients’ and Ethereum.
The Bakkt Warehouse was established in 2019 and comprises each on-line and offline, air-gapped digital asset storage.
“We acknowledged that Bakkt’s infrastructure and regulation-first strategy to crypto was a pure match and we’re assured that this partnership will profit all our shoppers and increase Nexo’s means to service the unprecedented institutional demand for cryptocurrencies in addition to people’ rising transaction volumes,” stated George Manolov, Enterprise Growth Government at Nexo.
Bakkt’s share value hit a excessive of $6.03 on the information. Nevertheless, it has since given up a few of these preliminary positive aspects.
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