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Bakkt Set To Launch Crypto Transaction App By 2020

Bakkt has announced that it will soon launch an app which will help consumers and merchants alike, to easily trade and transact business using digital currencies. In a blog post, Mike Blandina, Bakkt’s chief product officer, explained that this app will easily be used by merchants who want to receive cryptocurrency payments, and customers as well, who want to use cryptocurrencies to make purchases for goods and services.

Bakkt hopes to improve crypto adoption by opening these merchants to a whole new crop of customers, while doing the same thing with said customers, increasing the number of various ways crypto holders can use cryptocurrencies. Blandina explains this saying:

“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.”

The Bakkt platform currently only handles Bitcoin but there is the distinct possibility that the app, when it launches, will support more than a few more digital currencies. Also, as part of the announcement, Blandina reveals that the first launch partner on the platform will be Starbucks. Hopefully, coffee lovers will soon be able to pay for their delicious beverages using digital currency.

“All of these efforts amount to supporting the flywheel that drives broader acceptance, which is at the core of our mission that we will continue to bring to reality in 2020.”

Bakkt also plans to launch the first Bitcoin options contract by December.

Image Credits: Pixabay


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