Bakkt Launches Digital Wallet to “Expand Digital Asset Access to All”
Bakkt has released its new app, a digital wallet to manage all the digital assets; cryptos, loyalty and rewards points, gaming assets, and gift cards in one place.
Launched in 2018, the platform failed to gain much traction. In the past 24 hours, it only did $190 million in Bitcoin futures volume and had $40 million in open interest. Bakkt also launched Bitcoin options in Dec. 2019, but no one is trading those at all.
Now Bakkt App has been brought into the market to “unlock the value of the $1.2+ trillion in digital assets.”
According to the ICE-backed platform, Bakkt App received 500,000 users participating in its invitation-only Early Access Program to test the application before its public debut. The app is now available to the public on App Store and Google Play Store.
Gavin Michael Bakkt CEO
“The average consumer holds a wealth of digital assets – from gift cards to loyalty points to bitcoin – but lacks the tools to adequately track and utilize their value.” “We’re thrilled to bring the Bakkt App to the public as a step along our journey to expand digital asset access to all.”
Bakkt says its goal is to make all digital assets liquid, and for that, it has partnered with the likes of Starbucks, Best Buy, Choice Hotels, Fiserv, and GolfNow.
Millions of customers of these “marquee brands” will now have a new payment choice who can pay with their digital assets; crypto, frequent flyer miles, or anything else from the Bakkt App.