Crypto platform Bakkt is officially launching a digital wallet targeted at retail customers. According to a press release, over 500,000 users took part in the closed testing round.
Today, we launched the @Bakkt App, a game-changing digital wallet to get your digital assets – #bitcoin, frequent flier miles, gift cards and more – together into one amazing, easy-to-use app. To celebrate, we’re giving away $1 MILLION*! Download now: https://t.co/n7saLRAvIb pic.twitter.com/XbPezfeJBz
– Bakkt (@Bakkt) March 30, 2021
Bakkt announced its plans to create a consumer app in October 2019. Then it was assumed that its release will take place in the first half of 2020. The Bakkt App allows you to store, buy and sell cryptocurrencies. In addition, it can be used to manage other digital assets such as air miles, gift cards, and loyalty points.
“Customers can now use Bakkt to top up their Starbucks cards through the Starbucks iOS app,” the company said. Launch partners also include Best Buy, Choice Hotels, Fiserv and GolfNow. In total, Bakkt supports about 200 brands.
“The average consumer holds a variety of digital assets, from gift cards to loyalty points and bitcoin. However, he does not have the means to properly track and use their value. We are delighted to present the Bakkt App to the general public as the next step towards digital asset proliferation, ”said Bakkt CEO Gavin Michael.
Bakkt was opened by the New York Stock Exchange-owned Intercontinental Exchange in 2018. After numerous delays in the second half of 2019, it launched its main product – Bitcoin futures with the ability to receive payments in cryptocurrency. Despite the ambitious plans, Bakkt’s proposal has not garnered significant investor attention. The volume of active positions on the platform is currently about $ 40 million, while the Bitcoin futures market of the Chicago Mercantile Exchange is almost $ 3 billion.
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