The Bakkt Consumer App Will Do More Than Just Crypto Investing: Pres. Adam White

  • Intercontinental Exchange’s CEO, Adam White announced the launch of its retail app in 2020.
  • The app will tilt towards the traditional financial system style such as PayPal rather than the crypto-agnostic apps like Coinbase, said White.

Adam White, President of Bakkt, announced the launch of their consumer-based application and other developments in the ICE-backed futures exchange during the World Economic Forum in Davos in a panel hosted by The Block.

The company has been working on a digital asset application with the CEO now confirming the launch will be in 2020 with cryptocurrency interoperability. According to White, the app will allow merchants to accept crypto payments, loyalty points, digital equities, and other digital assets. This will represent a shift from the company’s widely known institutional investment focus with retail customers to the target market for the app.

The app will not include custodial wallets or buying and selling of cryptocurrency, as the company took a more legacy financial approach than a crypto-focused approach. More like a PayPal app rather than the conventional Coinbase or Flexa app. The exchange has long been regarded as an institutional crypto gateway but the latest development sets up new market space for the exchange.

However, White said the cryptocurrency market is yet to reach its heights in development but the field “will find something”. He said,

“I do not think we are there yet. What gives me optimism is that we are seeing a lot of developer interest. I am confident that someone is going to find something.”

Bakkt seems to be taking a new direction in the market since the newly-appointed CEO, Mike Blandina, took office from a newly appointed senator of the state of Georgia, Kelly Loeffler in late October.

Despite starting off the year on a back foot of CME institutional futures, Bakkt is on hand to test the 6000+ BTC futures all-time high set in December and White believes the growth of the crypto market is a key influencing factor.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Lujan Odera
Lujan Odera
Lujan is a blockchain technology and cryptocurrency author and editor. He has worked in the field of cryptocurrencies and blockchain technology since 2015 helping him gain enough experience to be the writer he is today. He is known for his simple writing style that allows novices to understand the field in the simplest way.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,471FansLike
2,795FollowersFollow
4,194FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Bitcoin to Follow the Equities Market Up or Down? One-Month Correlation Spikes to an All-Time High

Yet another week of weak price movement. The world’s leading digital asset is trading at $9,072, in red with 24 hours ‘real’ volume of just...

Public Mint Launches Its Blockchain; Over 200 Banks Plan to Support Its Digital Money

vPublic Mint, a firm founded by CNET founder Halsey Minor, has announced the launching of its ‘fiat-native’ public blockchain, which enables anyone to easily...

BTC Halving Week Brings in Record Monthly New Accounts & Doubles the Revenue for BlockFi

The past two months have been incredibly dull for the price of bitcoin, but it didn’t affect the businesses in the cryptocurrency space. The...

Currencycloud Partners with Ripple to Leverage RippleNet for Efficient Cross-Border Payments

Currencycloud - one of the global payment processing giants - has become the latest member of the RippleNet family and would help ripple in...

Coinbase Custody and IOHK Partner to Provide Institutional-Grade Staking For Cardano's ADA in Q4

IOHK, the lead developer of Cardano blockchain, and Coinbase Custody, the institutional-grade custodian launched by Coinbase Inc., announced a partnership to allow users to...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today