Nexo uses Bakkt custody service to protect users' Bitcoin and Ethereum assets

Crypto lending and trading platform Nexo reportedly uses Bakkt’s custodial services to protect its clients’ bitcoin and ethereum assets. According to Wednesday’s announcement, Nexo users’ digital assets will be held on the company’s custody platform, Bakkt Warehouse. According to Blockdata, about 8%-10% of crypto assets are now held by custodians. Crypto exchanges, including Nexo, Bitstamp, and Crypto.com, rely on third-party custodians to protect users’ digital assets.