Bakkt CEO Gavin Michael has stressed the importance of robust crypto custody solutions in light of recent market turbulence. He has highlighted the company’s commitment to keeping funds separate and its ability to adapt to regulatory changes, emphasizing the need for trust in the digital asset space.
To enhance security measures, Bakkt has expanded its range of cryptocurrency offerings by including six new digital assets on its platform. Notably, this expansion includes popular memecoins SHIB and DOGE, demonstrating the company’s strategy to cater to clients’ needs while maintaining a secure and regulated framework.
The addition of SHIB and DOGE comes at a time when both cryptocurrencies have experienced significant price increases. SHIB has seen a 6% surge in the past 24 hours and an impressive 25% rise over the last month. DOGE has outperformed this growth with a substantial 32% increase over a 30-day period. These surges can be attributed to various factors, such as SHIB’s rapid development cycle and its high-profile partnership with boxing legend Manny Pacquiao. Additionally, Shibarium, a layer-2 blockchain solution associated with SHIB, has made significant progress, recording over 1.5 million total blocks and nearly 4 million transactions.
Bakkt’s proactive approach in expanding its services and ensuring compliance with evolving regulations positions it as a forward-thinking player in the digital asset custody market. The platform’s continued investment in advanced features demonstrates its dedication to creating a secure ecosystem for cryptocurrency enthusiasts and investors.
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