Bakkt acquires custodian DACC as it builds out its own solution for storing cryptocurrencies

Quick Take

  • Bakkt is acquiring Digital Asset Custody Company, a custodian of cyptocurrencies and other digital assets. 
  • The move is made amidst regulation concerns over Bakkt’s proposed digital warehouse plan, which the Commodity Futures Trading Commission (CFTC) is yet to approve. 
  • DACC would be integrated into Bakkt’s own custody solution, in an attempt to obtain approval from the NYDFS and CFTC to launch its platform.
Crypto exchange Bakkt is stepping up its game in becoming a serious player in the bitcoin exchange business. The Intercontinental Exchange (ICE) backed venture announced on Monday that it has acquired Digital Asset Custody Company (DACC), a custodian of digital assets, per a Medium post by Bakkt COO Adam White.  Bakkt is currently building its […]

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Jan 20, 2022, 3:23PM UTC