Financial Services Superintendent Linda A. Lacewell today announced that the New York State Department of Financial Services (DFS) has approved the application of Bakkt Marketplace, LLC, a wholly owned subsidiary of Bakkt Holdings, LLC, for virtual currency and money transmitter licenses.
"With new technology advancing every day, DFS is proud to be at the forefront of financial innovation through our continuous efforts to set the conditions for virtual currency companies to germinate and grow. Responsible innovation will blaze a path to a brighter future," said Superintendent Lacewell. "This approval provides additional virtual currency options to New Yorkers as the state continues to rebuild and recover."
This license will allow Bakkt Marketplace to offer its New York customers the ability to buy and sell virtual currency and subject to DFS’s supervision of its licensed activities.