Enhancing Bitcoin Security Through Bakkt and Unchained Collaboration
Joint Efforts for Enhanced Bitcoin Security
Bakkt Holdings, Inc. has partnered with Unchained to enhance security for bitcoin holders through a collaborative custody product. This strategic alliance allows Bakkt to serve as an institutional signatory for Unchained customers using multi-signature vaults.
Importance of Secure Custody
Bakkt’s CEO, Gavin Michael, highlights the significance of secure and regulated custody in the crypto space. This partnership with Unchained provides large institutions with an alternative platform for secure access to their bitcoin assets.
Regulated Custodial Solutions
Unchained’s CEO, Joe Kelly, emphasizes Bakkt’s regulated custodial status as a valuable addition to their network. The collaboration aims to offer clients a more secure method of safeguarding their assets than any single solution could provide.
Expanding Custodial Services
Bakkt’s move to join forces with Unchained signifies an expansion of its custody services, while Unchained aims to strengthen the security of its custody model. With over $6 billion in bitcoin assets to protect, Unchained’s collaborative custody product offers a secure solution for clients.
Supporting Long-Term Crypto Engagement
Established in 2018, Bakkt offers institutional-grade custody, trading, and onramp capabilities to clients, encouraging sustained participation in the crypto economy. Unchained, founded in 2016, focuses on empowering individuals and businesses to secure their bitcoin assets through a collaborative custody model.
Empowering Bitcoin Holders
This collaboration between Bakkt and Unchained is a significant step towards enhancing the security of bitcoin holdings for institutional clients. By providing a secure and regulated custody solution, both companies are working together to empower clients in safeguarding their assets.
