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Bakkt works on a new application to further its crypto client base

Bakkt works on a new application to further its crypto client base
  • Bakkt has recently announced that it is working towards launching an application to continue unlocking the value of cryptocurrency for its client base. 
  • Specifically, the platform is looking towards its institutional investors and how it will benefit them in the future.

The subsidiary of the Intercontinental Exchange, Bakkt has recently announced that it is working towards launching an application to continue unlocking the value of cryptocurrency for its client base. Specifically, the platform is looking towards its institutional investors and how it will benefit them in the future.

“As we drive towards the launch of the Bakkt app, we’re already unlocking the value of digital assets for consumers, merchants, and institutions. Whether it’s airline miles, credit card points, or cryptocurrencies, our products are making digital assets more accessible, useful, and trusted.”           

Earlier in 2020, the Bakkt platform quiet Bridge2 solutions which were a strategic move as it is a leader in the loyalty sector. The reason for this buyout was to propel its agenda into the future. According to the post on the official webpage, Bridge2 solutions powered the redemption of over 1.5 trillion points. Following this and as a result, many institutions and companies could put their loyalty points to use.

It’s going and the crypto world has been in the crosshairs of many institutions over the past few years. Particularly, they are looking at the futures market due to its level of return on investment ratio. But there is a challenge to this. The challenge being the assessment of a secure and trusted merchant which has been a problem for many institutions because of the lack of maturity in the market.

The Bakkt platform has been one of those companies that have been at the forefront of crypto adoption. They have been pushing the industry in both the retail and conventional sectors and more recently, they announced that they had teamed up with two of the biggest financial companies in the world to help more than 30 million consumers redeem their clients. In a statement, the company said the following:

“Our enterprise loyalty products provide critical infrastructure to companies around the world and we’re proud to power thousands of programs that unlock digital assets for consumers.”

For more news on this and other crypto updates, keep it with CryptoDaily!

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