Bakkt will add the ability to trade ETH

Cryptocurrency platform Bakkt, which initially offered the ability to trade exclusively in Bitcoin, announced that customers will soon be able to buy, sell and store ETH.

It will be possible to transfer coins to other clients of the platform, but withdrawal to third-party wallets will not work. Support for the second cryptocurrency will also be added to the Bakkt Warehouse custody service, so institutional investors will have full access to this asset. In the future, it will also be possible to trade derivatives on ETH.

We’re pleased to offer the ability to buy, sell, and hold ether (ETH), the cryptocurrency of the Ethereum network, starting soon. https://t.co/ml71eEeXoX #cryptocurrency #ethereum pic.twitter.com/tN4MThWFia

– Bakkt (@Bakkt) November 5, 2021

“We have received all the necessary permits and have already prepared the infrastructure for working with ETH on our platform. New features will be launched in the coming weeks, ”a Bakkt spokesman said.

ETH is becoming more and more popular and support for this cryptocurrency is in line with the company’s goal of developing the digital economy. Bakkt CEO Gavin Michael stressed:

“The main thing for us is to provide our clients with the flexibility to use their digital assets. Therefore, we are adding support for the popular and emerging cryptocurrency ETH. Bakkt customers have already appreciated the convenience of using Bitcoin through our app, and we are confident that ETH support will be a great addition to our ecosystem. ”

In early October, the company entered into a partnership with the Google Pay payment system – now holders of Bakkt’s virtual Visa debit cards will be able to pay with cryptocurrencies from their smartphones.