Bakkt Holdings, Inc. (NYSE: BKKT), which has been struggling to maintain operations due to a shortage of cash reserves but has acquired financial resources to keep running operations for now, and Swan Bitcoin announced that the companies have enabled Bitcoin trading across 49 U.S. states together.
Bakkt provides Swan with “a breadth of Bitcoin services, including fiat onboarding, Bitcoin trading, and custody.”
Gavin Michael, CEO of Bakkt, said:
“We are thrilled to be taking this exciting step forward in our partnership with Swan. This is just the beginning of our collaboration, as we intend to explore further growth opportunities together in the future, including expansion into international markets.”
Founded in 2018, Bakkt builds solutions that “enable our clients to grow with the crypto economy. Through institutional-grade custody, trading, and onramp capabilities, our clients leverage technology that’s built for sustainable, long-term involvement in crypto.”
Bakkt is headquartered in Alpharetta, GA.
As noted in the update, Swan is a Bitcoin financial services company.
The user-friendly Swan app “simplifies Bitcoin purchases with instant and recurring buys, while Swan IRA provides a tax-advantaged solution for saving Bitcoin in retirement accounts. For HNWIs and businesses, Swan Private offers tailored white-glove service for large purchases, treasury solutions, and employee Bitcoin benefits.”
With Swan Vault clients can easily “custody their own Bitcoin with peace of mind. Financial advisors trust Swan for client Bitcoin allocations, backed by world-class custody and educational content.”
Swan Institutional reportedly “provides financial services to governments, corporations, and other entities, including Bitcoin-backed lending, asset management, principal investments, Bitcoin services for financial advisors, and Bitcoin mining operations.”
Swan claims that it prides itself “on exceptional client service, making Bitcoin accessible to all.”
As covered recently, Bakkt Holdings, Inc. announced recently its activation of crypto capabilities in several new international markets in Asia, Europe, North America and South America with existing clients Hapi and SogoTrade.
Bakkt and stock trading platform Hapi have reportedly “broadened their active crypto trading capabilities throughout Latin America, now live in Brazil and Guatemala, as well as Spain. This furthers their working relationship, building on already-live capabilities in Argentina and Mexico.”
Starting today, Bakkt crypto trading is also “live in Hong Kong and Singapore with digital brokerage SogoTrade.”
The companies plan to jointly launch these crypto trading capabilities “in additional international markets in the near future.”
