Cryptocurrencies
Novogratz’s Galaxy, Bakkt Start ‘White-Glove’ Bitcoin Service
- Partnership plans to target traditional asset managers
- Venture comes amid surge in crypto prime brokerage services
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Mike Novogratz’s Galaxy Digital Holdings Ltd. is partnering with Intercontinental Exchange Inc.’s Bakkt unit to offer “white-glove” service for large asset managers looking to buy and store Bitcoin.
“We are talking about multi-billion-dollar asset managers from traditional finance that we are really targeting with this,” Tim Plakas, head of sales at New York-based Galaxy’s over-the-counter trading desk, Galaxy Digital Trading, said in a phone interview.