Bakkt Warehouse claims more than 70 institutional customers

Bakkt Warehouse, the conservation solution for Bakkt, has passed the bar 70 customers and is now able to insure the cryptocurrencies stored on the service up to $ 500 million.

In a blog post, Adam white, the president of Bakkt, announced that the company has added support for new digital assets and integrated over 70 customers to his offer Bakkt Warehouse.

We are unlocking digital assets for institutional investors and have integrated more than 70 companies into the Bakkt warehouse. Secure storage is the foundation of everything we do, whether it's regulated Bitcoin retention or the delivery of futures and options, "White wrote.

Release in fall 2019, the solution leverages local data centers and dedicated network connectivity to eliminate dependency on multi-tenant systems.

While Bakkt proposed a crypto insurance up to $ 125 million, customers can now increase coverage up to $ 500 million thanks to a partnership with the American brokerage company Marsh.

Also, biometrically controlled safes and FIPS 140–2 level 3 hardware security modules (HSM) add to the security of Bakkt Warehouse. In addition, the startup recently completed SOC 1 Type I and uSOC 2 Type II exams by audit firms PWC and KPM.

These audited procedures and controls are essential to our institutional clients and have led Tagomi, one of the most popular premium crypto brokers, to choose Bakkt as its custodian, ”said White.

Last month, the CEO of Bakkt, Mike Blandina, resigned and joined JP Morgan bank. Following his departure, Intercontinental Exchange, the parent company of Bakkt, has appointed David Clifton.