Bakkt Launches Digital Wallet, Bakkt App, Sees Over 5,000 Participants in Trial Run

UTC by Ibukun Ogundare · 3 min read
Bakkt Launches Digital Wallet, Bakkt App, Sees Over 5,000 Participants in Trial Run
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Ahead of the official launch, the Bakkt App attracted more than 500,000 users who participated in its Invitation-only Early Access Program. The App is now available on the App Store and Google Play Store.

Crypto firm Bakkt has launched its digital wallet, Bakkt App, after a long wait. When Bakkt initially announced the Bakkt App in October 2019, the company said the digital wallet app would be available in the first half of 2020. At the time, Bakkt chief product officer Mike Blandina hinted that the App may support other cryptocurrencies other than Bitcoin. Blandina added that Bakkt App is to offer consumers a platform where they can easily manage a digital asset portfolio. On the platform, users may choose whether to store, send, transact, transfer or trade their digital assets.

In 2018, when Bakkt founder, the Intercontinental Exchange (ICE), announced the crypto firm, ICE said Bakkt would be partnering with coffee company Starbucks and other companies to offer retail experience.

Bakkt has now announced Starbucks as one of the merchant partners with its new digital wallet, Bakkt App. In a press release published on the 30th of March, Bakkt said customers can now use Bakkt to reload their Starbucks Card. Reloading the Starbucks Card can be completed with the Starbucks app for iOS.

Starbucks VP of global card, commerce, and payment, Karl Hebert, commented on the new partnership with Bakkt. Hebert noted that the companies worked “closely together” while Bakkt was developing the newly-launched payment experience.

Bakkt App Attract Over 5,000 Participants in Pre-Launch Trial

Ahead of the official launch, the Bakkt App attracted more than 500,000 users who participated in its Invitation-only Early Access Program. The App is now available on the App Store and Google Play Store. According to Bakkt CEO Gavin Michael, the digital wallet is “a step” as the company expands access to digital assets to the public.

Apart from Starbuck, Bakkt is also partnering with marquee brands such as consumer electronics company Best Buy (NYSE: BBY). Other brands Bakkt is collaborating with are Fiserv (NASDAQ: FISV), Choice Hotels (NYSE: CHH) and GolfNow.

As highlighted in the press release, Bakkt customers will enjoy exclusive deals from Best Buy when they pay with their Bakkt Visa Debit Card. Also, users can use their Choice Privileges Reward, backed by Choice Hotels, through the Bakkt App. In addition, Fiserv users will be able to convert their uChoose Rewards points to cash using the Bakkt App. GolfNow members will also use their digital assets for payments at check out with the new digital wallet.

The senior vice president and general manager at GolfNow, Jerramy Hainline commented:

“As a technology leader in our sport, GolfNow is excited to join with Bakkt to further diversify payment solutions for our more than 3.5 million members. The potential our partnership presents is very compelling, creating an opportunity to make golf even more accessible by giving our customers the ability to convert crypto, gift cards and unused loyalty points into a round of golf.”

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Ibukun Ogundare

Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience. Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.

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