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Bakkt Expands International Reach, Reduces Cash Burn
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Bakkt Expands International Reach
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Overview
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Cryptocurrency company Bakkt Holdings is expanding its international reach into five new markets: Latin America, the United Kingdom, the European Union, Hong Kong, and Australia. The company is reducing its cash burn by 70% to 80% compared to the beginning of the year and has invested in areas such as custody.
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How does Bakkt's investment in custody contribute to its international expansion?
How will Bakkt's expansion into these new markets impact the cryptocurrency industry?
What are the potential benefits and challenges of reducing cash burn?
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