Bakkt Holdings, LLC, a U.S.-based digital asset marketplace, announced on Thursday it has teamed up with Cantaloupe, Inc. (NASDAQ: CTLP), a digital payments and software services company, to provide cashless experience for consumers to spend digital assets at retail devices.
Bakkt reported that through the partnership, in addition to cash, debit and credit card, or mobile wallet, consumers will soon have the choice and flexibility to pay for products with cryptocurrency and supported loyalty points across Cantaloupe’s nationwide network.
“The partnership will enable Cantaloupe to offer consumers the ability to pay using the digital assets within the Bakkt App, starting with bitcoin and participating loyalty points on more than a million devices.”
While sharing more details about the partnership, Bakkt CEO, Gavin Michael, stated:
“Our partnership with Cantaloupe delivers a frictionless customer experience for consumers to use digital assets as they’re intended, and we’re delighted to introduce an innovative payment option that drives both merchant sales and moments of customer delight. Imagine being able to buy a snack at an airport with unused points that, until Bakkt, you didn’t know you still had.”
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.