THELOGICALINDIAN - Bridge2 Solutions will be acquired by the company
Bakkt is planning to acquirement Bridge2 Solutions, a chump adherence and rewards service, as allotment of its affairs to action a Bitcoin and cryptocurrency-powered acquittal app in the abreast future.
The Intercontinental Exchange (ICE) appear capacity in a Feb 5. press release:
When Bridge2 Solutions ultimately joins Bakkt, the cardinal aggregate will advance the development of the Bakkt customer application, which will accommodate agenda asset aggregation, about-face and payments through a distinct belvedere for consumers about the world.
This accretion is allotment of Bakkt’s about-face against customer services. Last year, it launched futures trading, derivatives products, and a aegis service—all of which are aimed at institutional investors. By contrast, the accessible payments app will be aimed at the accepted public.
More capacity should become bright in the abutting few months. Bakkt expects to barrage its app aural the aboriginal bisected of this year, and it affairs to complete its accretion of Bridge2 for an bearding bulk by the end of this quarter.
Thousands of Connections
Previous announcements from Bakkt accept focused about alone on a affiliation with Starbucks, which will acquiesce its barter to absorb their Bitcoin at the coffeehouse chain.
Bridge2, meanwhile, works with over 4500 loyalty, incentive, and agent advantage programs. The aggregation additionally admiral the accolade programs of seven arch banking institutions.
As such, Bridge2’s captivation agency that Bakkt may action a abundant added ambit of possibilities.
Unfortunately, it does not assume that all of Bridge2’s access will become complex with Bakkt immediately. ICE’s columnist absolution implies that brands will charge to appoint with Bakkt added directly.
“Integrating with Bakkt will acquiesce top retail brands to action added avant-garde adherence programs and advice consumers alleviate and admission amount in those programs,” ICE explains.
Will Bakkt Win Over Consumers?
Bakkt’s accessible acquittal app does not assume to be absolutely unique. Plenty of crypto wallets and apps already abutment accepted Bitcoin spending, including Square’s Cash app and Coinbase’s VISA card. Additionally, crypto acquittal apps such as Wirex and Crypto.com action accolade programs.
With that in mind, it is cryptic whether the acquittal app will be adorable to the accepted public.
Bakkt’s above affirmation to acclaim is the actuality that it is operated by ICE—which additionally operates the New York Banal Exchange and several added arch banal exchanges about the world. Those accreditation may be accordant in the apple of institutional investment, area cryptocurrency is a attenuate afterimage in any form.
However, those accreditation may not be so noteworthy in the cryptocurrency payments industry, area Bakkt will charge to attempt with dozens of accustomed services.
