Intercontinental Trade (ICE), the bitcoin warehouse’s parent organization, announced Wednesday it had agreed to get Bridge2 Methods, a loyalty alternative service provider for both of those merchants and buyers. Bakkt, in change, will use its money from its ongoing Series B fundraising spherical to get Bridge2 and implement its tools to its customer app.
In a statement, Bakkt CEO Mike Blandina wrote, “with the start of the Bakkt app, we will, for the initial time, offer you buyers a robust platform to consolidate and use all of their digital belongings, from crypto to loyalty points to in sport tokens, in 1 user-pleasant wallet.”
Bakkt will acquire gain of Bridge2’s existing associations with banking companies and merchants, as well as its “Loyalty Spend solution” to start new goods, he stated.
The organization initial uncovered its intention to build a mobile customer app final Oct, when Blandina, then the chief merchandise officer, wrote in a web site article that Bakkt was hoping to “make it uncomplicated for buyers to find and unlock the benefit of digital belongings,” as well as aid transactions and monitoring.
“Retailers acquire entry to a broader set of consumers with expanded spending power,” Blandina wrote at the time.
The app is most likely to aid a lot more than just bitcoin, however a unique listing of supported belongings or other digital sorts of benefit have not yet been introduced.
Bakkt beforehand announced it was targeting a start day in the initial 50 percent of 2020.
Bakkt introduced final 12 months as an institutional-focused bitcoin warehouse, offering futures and solutions contracts in conjunction with parent organization ICE. Its former CEO, Kelly Loeffler, was appointed to the U.S. Senate by Ga Governor Brian Kemp, top to Blandina and COO Adam White’s elevations to the CEO and president roles, respectively.
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