THELOGICALINDIAN - Bakkt will add the agenda acumen aggregation to its accretion account of offerings via its ancestor aggregation Intercontinental Exchange Inc This move represents the accretion absorption in cryptocurrencies by the bequest banking space
ACQUISITION TAKES BAKKT IN A DIFFERENT DIRECTION
Established in 2018, Bakkt offers Bitcoin futures and careful cryptocurrency solutions. Bridge2 Solutions is a provider of agenda casework such as adherence programs and accident tickets. Thus, Bakkt is acutely attractive to expand above its accepted offerings.
Of accurate agenda is the actuality that Bridge2 Solutions works with dozens of the world’s better retail companies, including Amazon.com, Target, and BP. Thus, the appulse on crypto acceptance could be tremendous.
Intercontinental Exchange will accomplish the acquisition, but will pay for it with Bakkt’s soon-to-close alternation B funding.
Presently, Bakkt has focused on institutional investors, with acquirement banned and careful offerings geared against ample sums. Nevertheless, it has continued been accepted to aggrandize into the customer space. This move is appropriately not surprising.
Bakkt is additionally developing a customer app, and is investigating cryptocurrencies added than Bitcoin.
MOVES INTO CONSUMER SPACE WILL CREATE MANY POSSIBILITIES
Bakkt has appear no added capacity on this acquisition, yet the area that it is affective into has all-encompassing possibilities. Loyalty programs and agenda customer character are now commonplace in the retail industry. Blockchain technology and cryptocurrency accept continued been apparent as an accomplished fit for these processes.
Whereas it is too aboriginal to brainstorm on what articles Bakkt may be planning, giving retailers the adeptness to accolade barter with Bitcoin is a actual absolute possibility. Moreover, added avant-garde blockchain-based solutions could be created based on acute affairs or decentralized applications (dApps).
There is additionally little agnosticism that Bakkt has the aptitude and assets to accompany such programs to fruition. It is acutely well-funded, and afterwards a apathetic alpha has amorphous to become a key amateur in the crypto market.
Also, the audience served by Bridge2 Solutions are accepted to be actual absorbed in broadcast balance technology. Although few ample retailers present acquire cryptocurrency, around all are able-bodied acquainted of its advantages. Also, blockchain technology will anon be frequently acclimated in fields such as accumulation alternation and logistics.
It is account acquainted that the clip of blockchain development, and the advance of the technology will actualize competition, should Bakkt booty this route. Asset tokenization, for example, is an arising acreage that is additionally adapted for these applications.
There is no doubt, however, that Bakkt’s accepted offerings are alone the beginning.
What do you accomplish of Bakkt’s latest accretion plans? Add your thoughts below!
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