May 18, 2020 Bakkt announces additional insurance coverage, now totaling $625 million.

Bakkt, the cryptoasset financial services provider, announced its additional insurance service in a Monday blog post in which it also stated that it has attracted over 70 clients for its custody offering. Clients who custody their cryptoassets with Bakkt can access the insurance due to a partnership between Bakkt and the insurance broker, Marsh which combined, with Bakkt’s existing insurance offering of $125 million, collectively offers $625 million in coverage.