Bakkt Warehouse Signed $125M Insurance Policy to Safeguard Clients Bitcoin Deposits

By Jenny Aurora | September 10, 2019

Bakkt Warehouse has registered a $125 million insurance deal to provide safeguarding for clients’ funds, following the firm’s announcement of facilitation for deposits and withdrawals on September 6. 

Bakkt has undergone a struggling process in order to secure a regulatory certification, to best prepare to officially roll out its previously-planned products. 

After all regulation-related concerns are resolved, the process has been drastically accelerated, with deposits for key materials in Bakkt’s freshly-authorized custody space have been going in steadily. 

Bakkt further expect that with the newly-acquired insurance policy for clients’ deposits, the firm would be able to get more and more customers, nominally institutional investors, to join its Warehouse.

Should the plan for the launch goes well on September 23rd, it would mark the milestone for the first-of-its-kind Bitcoin futures platform to have its offering delivered via a physical means, which would, as a result, enables investors to conduct transactional activities with actual BTC.

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