Bakkt Expands Custodial Support to Six New Coins, Focuses on Strengthening Crypto Custody Arm

Bakkt, a crypto firm, is shifting its focus back to digital asset custody and has announced support for six new coins, including Bitcoin Cash, Dogecoin, and Ethereum Classic. The company plans to add more coins to its custodial services early next year. Bakkt is employing various security measures to protect assets, such as cold storage of coins and multi-signature technology. The company's quarterly earnings report showed a decrease in adjusted EBITDA loss year-over-year, but an increase in crypto revenue thanks to the acquisition of Apex Crypto. Bakkt is also developing partnerships to strengthen its crypto custody arm and expand its business-to-business (B2B) client base.