Bakkt to Launch a Crypto-Payment App

October 28, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Bakkt Bitcoin Futures Platform plans to release a new cryptocurrency payment application.

Bakkt Product Director Mike Blandina this Monday wrote in a blog post:

“We’ll be launching a consumer app to make it easy for consumers to discover and unlock the value of digital assets, as well as ways in which they can transact or track them. Merchants gain access to a broader set of customers with expanded spending power.”

Blandina admitted that support for cryptocurrencies in the company’s new application may not be limited to just Bitcoin, for which it currently offers futures contracts.

“A key feature of the model we’ve designed is to support a superset of digital assets, including cryptocurrencies, as seamlessly as investors transact in stocks in a retail brokerage account,” he added.

Along with the announcement of the Bitcoin futures platform in August 2018, Bakkt announced the start of cooperation with Starbucks and other retail companies. According to today’s announcement, Starbucks will be Bakkt’s first partner in a new application, which is scheduled to launch in the first half of 2020.

“I have strong conviction that by driving more integration and efficiency across digital wallets, transaction processing and payment acceptance, there are meaningful opportunities for merchants and consumers to seamlessly interact using digital assets in ways that have not been previously considered. It is often said that digital assets will be successful when consumers don’t have to think about the technology underlying them,” said Bakkt Product Director.

Bakkt previously announced a plan to launch Bitcoin options.

Author: Marko Vidrih