NYDFS Grants Charter for Trust Company to Custody Bitcoin
The New York State Department of Financial Services ("NYDFS") approved the application of a trust company to act as a custodian for Bitcoin. NYDFS authorized Bakkt Trust Company LLC ("Bakkt") to offer custody services for Bitcoin following the introduction of trading physically delivered Bitcoin futures contracts on the Intercontinental Exchange Futures U.S. Under its charter, Bakkt will provide services to institutional customers.