Bakkt Embraces Litecoin: Wall Street Integration Signals Institutional-Grade Recognition

After years of exclusively supporting Bitcoin and Ethereum, Bakkt is set to add Litecoin and five other digital assets scheduled to launch in December 2023. We are seeing a common theme with Litecoin, now consistently included with Bitcoin and Ethereum the two largest digital assets and networks at $706 Billion for Bitcoin and $242 Billion for Ethereum.

Litecoin still has a small market cap compared to both Bitcoin and Ethereum at $5 Billion.

Bakkt Trust Company LLC is recognized as an NYDFS Qualified Custodian, providing an institutional-grade Bakkt® Custody platform. This is good news, considering earlier this year the New York State Department of Financial Services didn't include Litecoin on the green list.

Bakkt was also recently named the Best Digital Assets Custodian of 2023 by the Digital Assets Awards.

Source:

1. https://bakkt.com/newsroom/bakkt-announces-relaunch-of-bakkt-custody-with-additional-functionality-and-expanded-asset-support

2. https://dfs.ny.gov/virtual_currency_businesses#greenlisted-coins-tokens

3. https://bakkt.com/blog/crypto-custody-award-bakkt