Bakkt Holdings, LLC, a U.S.-based digital asset marketplace, announced on Tuesday the launch of its new Bakkt App. According to Bakkt, the Bakkt App is a digital wallet that brings Bitcoin and other forms of digital assets into one platform.
“The Bakkt App gives consumers the power to use their digital assets how they prefer – converting participating rewards points to cash or using bitcoin as payment, for example – all within one easy-to-use application.”
Bakkt also revealed the Bakkt App saw more than 500,000 users participate in its invitation-only Early Access Program, as new features were released and tested prior to its public debut. The app launched with various brands, including Starbucks, GolfNow, Best Buy, Choice Hotels, and Fiserv. Speaking about the launch, Bakkt CEO, Gavin Michael, stated:
“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.”
As previously reported, Bakkt is a regulated digital asset exchange that also provides a digital wallet. The company is notably the creation of the Intercontinental Exchange (ICE) the parent company of the New York Stock Exchange. The launch of Bakkt App comes less than a month after New York Financial Services Superintendent Linda A. Lacewell announced the New York State Department of Financial Services (DFS) had approved the application of Bakkt Marketplace, LLC, a wholly-owned subsidiary of Bakkt Holdings, LLC, for virtual currency and money transmitter licenses.