Regulated Trading Platform Bakkt has announced the launch of a retail wallet for storing cryptocurrencies, loyalty program points and gift cards.
A wallet that can be used by both consumers and merchants has been in development for several years. More than 500,000 users have used the app as part of preliminary testing and can now be downloaded from Google Play and the Apple App Store. The wallet is already supported by Starbucks, Best Buy, Golf Now and Choice Hotels. Bakkt said in a statement:
“Thanks to our application, users will be able to more fully reveal the value of the cryptocurrency market, the capitalization of which exceeds $ 1.2 trillion. They will also be able to conveniently store loyalty program points and gift cards. The application was created to encourage customers to spend them more actively, while reducing payment costs and attracting new users to loyalty programs. ”
Bakkt CEO Gavin Michael emphasized that people usually have many different gift cards, as well as cards from different stores and chains, but there is no convenient way to track the accumulation of points in loyalty programs and their use. The Bakkt app should help with this, as well as get people interested in cryptocurrency payments.
In February 2020, the owner of the Bakkt platform – the Intercontinental Exchange (ICE) stock holding – bought out the developer of loyalty programs for sellers and buyers Bridge2 Solutions and integrated it into Bakkt.
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