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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.”

Other news from the crypto industry can be found here.

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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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Ethereum price closes in on $4K as Shiba Inu (SHIB) steals Dogecoin’s thunder

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The crypto market has rallied into the weekend as Ether (ETH), Dogecoin (DOGE) and Shibu Inu (SHIB) hit new all-time highs as they lead the pack of altcoins up the market cap mountain. 

Much of the excitement behind Dogecoin’s rally has been attributed to the upcoming appearance of Elon Musk, the CEO of Tesla and a Dogecoin advocate, on the popular Saturday Night Live comedy sketch show. Ether, on the other hand, continues to rally toward $4,000 as institutional interest in the altcoin soars and the approaching London hard fork have investors feeling extra bullish.

Data from Cointelegraph Markets and TradingView shows that after briefly dipping to a low of $3,418 in the late hours on May 8, Ether price regained its composure and proceeded to vault 13% to reach a new all-time high at $3,958. 

ETH/USDT 4-hour chart. Source: TradingView

While some have been surprised by the bullish movement from the second-largest cryptocurrency by market capitalization, it comes as no shock to Cointelegraph market analyst Marcel Pechman who recently detailed how Ether “could easily sustain until $5,000.”

Bitcoin (BTC) has used its time out of the spotlight to quietly climb higher with bulls now attempting to hold the price above $59,000.

Canine-themed ‘meme coins’ lead the pack

Dogecoin has emerged as one of the biggest mainstream attention grabbers in cryptocurrency history as scores of new users got their first taste of crypto trading from the popular meme token.

The week-long build-up in momentum for DOGE led to a 25% surge in the early trading hours on Saturday that lifted its value to a new all-time high at $0.74 before profit-taking dropped the price back below $0.68.

DOGE/USDT 4-hour chart. Source: TradingView

Thanks to the global attention that Dogecoin has attracted, a number of canine-themed projects have arisen, including Shiba In (SHIB), which burst onto the scene following a two-day rally that saw its value launch 1,100% higher to establish a new record high at $0.0000178.

The overall cryptocurrency market cap now stands at $2.463 trillion and Bitcoin’s dominance rate is 44.8%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.