Crypto Weekly: Bakkt Extends Crypto Custody, Blockchain.com Launches Crypto Lending Services and more

Key Highlights

Bakkt Expands Its Enterprise-Grade Crypto Custody Solution to All Institutions
Bank of Tanzania Warns Public Against Use of Cryptocurrencies
Analysts Push Bitcoin’s [BTC] Bullish Timelines Beyond 2021
China to Boost Blockchain Innovation by Investing $2 Bn by 2023 – IDC Report
SBI Ripple Asia Announces First Japan-Vietnam Money Transfer Service Using RippleNet
Blockchain.com Launches Crypto Lending Services; Disbursed $120 Million in November
Singapore’s Central Bank, JP Morgan To Develop Blockchain-based Cross-Border Payments System

Bakkt Extends Crypto Custody to All Institutions

Bakkt now offers Bitcoin custody to all institutions. Clients all over the world can now safeguard their assets using Bakkt’s enterprise-grade offering. Furthermore, the latter has also received authorization from the New York Department of Financial Services (NYDFS) to offer bitcoin custody to all institutions. The list of firms that have signed up as initial customers includes Pantera Capital, Galaxy Digital and Tagomi. Other firms are expected to join in a span of a few weeks. Previously, Bakkt only provided custody services to clients trading Bitcoin’s futures contracts.

Bank of Tanzania Releases Notice Against Use of Cryptocurrencies

Bank of Tanzania in a public notice has warned the public against using cryptocurrencies. Furthermore, the notice states that cryptocurrencies are not legally authorized in Tanzania. The notice further mentions that it has noted a growing trend among the public engaging in cryptocurrency-based activities. Also, the latter highlights the fact that some entities in Tanzania are marketing the perception that cryptocurrencies are legal tender in the country.

Thomas Lee and Tone Vays Predict $50K Bitcoin[BTC] Price for 2022

Leading analysts Thomas Lee and Tone Vays have extended their bullish targets beyond $50,000 as far as 2022.

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