Bakkt enhances custody platform, adds SHIB and DOGE amid price surges

NEW YORK – In a strategic move to bolster security and adapt to the dynamic regulatory landscape, Bakkt has relaunched its digital asset custody platform with enhanced features. The revamped service offers segregated on-chain wallet addresses and advanced security protocols, aiming to provide a more secure and compliant environment for cryptocurrency transactions.

The CEO of Bakkt, Gavin Michael, emphasized the significance of robust crypto custody solutions in the wake of recent market upheavals. He highlighted the company’s commitment to non-co-mingling of funds and readiness to adapt to regulatory shifts, underscoring the importance of trust in the digital asset space.

In addition to bolstering security measures, Bakkt has expanded its cryptocurrency offerings by adding six new digital assets to its platform. Notably, this expansion includes popular memecoins SHIB and DOGE, reflecting the company’s strategy to accommodate client fluidity between platforms while maintaining a secure and regulated framework.

The inclusion of SHIB and DOGE comes at a time when both cryptocurrencies have experienced notable price increases. SHIB has seen a price jump of about 6% in the last day and an impressive 25% over the past month. DOGE has outpaced this growth with a significant 32% rise over a 30-day period. These surges are attributed to several factors, including 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 achieved substantial 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 signals its dedication to fostering a secure ecosystem for cryptocurrency enthusiasts and investors alike.

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