Blockchain.com has partnered with Bakkt (NYSE: BKKT), a regulated digital asset exchange that provides services such as custody and other infrastructure, to enable cryptocurrency trading in all 50 states.
Previously, Blockchain.com was unable to offer services in eight states due to regulatory hurdles.
Blockchain.com President Lane Kassleman said the move was important because it allowed them to reach customers in New York, Virginia and Texas — huge markets for cryptocurrencies.
Other new states include New Jersey, Louisiana, Hawaii, Tennessee and Nevada.
Cryptocurrency trading in the U.S. is regulated at the state level, as neither Congress nor the Securities and Exchange Commission have provided a clear path for platforms to be regulated at the federal level. While Congress has attempted to approve legislation to provide new rules, the SEC has been hostile to cryptocurrencies and the nuances encompassed by the new digital asset space.
Bakkt CEO Andy Main called the collaboration “an exciting next step in our partnership and an opportunity to capture a growing market together.”
Since its founding in 2011, Blockchain.com has added over 9000 million wallets and over 4000 million verified users, and facilitated over $1 trillion in crypto transactions.