Bakkt and Nexo partner for secure custody of crypto assets

Bakkt Holdings, Inc., a trusted digital asset platform that allows users to buy, sell, send and spend a variety of digital assets, entered into a partnership with Nexo (NEXO/USD), the leading regulated digital assets institution and exchange, Invezz learned from a press release.

Bakkt Warehouse, the company’s regulated custodian, will hold cryptocurrency assets within the framework of the partnership, enabling safe and secure storage of Bitcoin (BTC/USD) and Ethereum (ETH/USD).

Enabling online and offline asset storage

Bakkt Warehouse offers online (“warm”) as well as offline (“cold”) storage of digital assets. Bakkt rebalances between cold and warm storage tiers to reduce the risks associated with the latter. Bakkt’s warm and cold wallets run on wallet architecture featuring multi-zone physical security, including bank-grade vaults, to guarantee Nexo user assets additional layers of protection.

Dan O’Prey, Chief Product Officer, Crypto at Bakkt commented:

George Manolov, Business Development Executive at Nexo added:

About Bakkt

Bakkt Trust Company LLC, a limited purpose trust company, is regulated by the New York Department of Financial Services. Bakkt Marketplace, LLC is registered as a Money Service Business with FinCEN and has a BitLicense through the New York Department of Financial Services.

About Nexo

Nexo is a platform offering tax-efficient Instant Crypto Credit Lines™, a high-yield Earn Crypto Interest suite, an instant Exchange service, and sophisticated trading and OTC capabilities, all while providing the top-tier custodial insurance and military-grade security of the Nexo Wallet. Nexo has processed $75+ billion for 3,000,000+ users across more than 200 jurisdictions.