Galaxy Digital and Bakkt Launch Trading Service for Institutional Customers

According to the recent tweet of Bakkt (#Bakkt), it is launching a trade and depository service for institutional investors with a cryptocurrency bank of Michael Novogratz, Galaxy Digital. 

The service is focused on asset management companies that intend to acquire Bitcoin and strengthen their positions in the cryptocurrency. It will also provide custodial services.

Galaxy Digital's subsidiary, Galaxy Digital Trading (GDT), will provide investors with its infrastructure to access the cryptocurrency market. In turn, the Bakkt custodial wing - Bakkt Warehouse - will store the digital assets of the joint venture's customers.

According to Bloomberg, the financial corporation Fidelity Investments found that 36% of the 774 large customers, surveyed in the US and Europe, added digital assets to the portfolio.