Bakkt empowers users to track, spend and send digital assets

By Pavithra R

Bakkt, a Financial service company, aimed to bring transparency and trust to digital assets has unveiled broader Peer-to-Peer (P2P) capabilities that enable its users to send bitcoin, gift cards and cash to anyone, including those not currently using the Bakkt App.

“We are excited to introduce our P2P to anyone capabilities to broadly expand consumer payment options in the digital asset space. Bakkt has aimed to provide the app, marketplace and payments infrastructure to make all digital assets transactable, and this new functionality welcomes everyone to have a frictionless digital experience to send and receive bitcoin, gift cards or cash to anyone,” said Gavin Michael, Bakkt CEO.

The new capabilities offered are:

• Send gift cards
• Send bitcoin
• Send cash

The Bakkt App provides users with a single wallet to manage their digital assets and makes P2P payments with cryptocurrency a seamless experience. To leverage the new features users have to download the latest version of the app and select Send from either the Crypto, Gift Card, or Cash screens in the Bakkt App.

Through the launch and its offerings, the firm aims to empower users to track, spend and send digital assets. The Bakkt App enables consumers to understand the full scope of their digital assets and helps them to unlock their greater value, while giving merchants and loyalty program sponsors deeper customer engagement and a lower cost of payment acceptance.

Launched in 2018, Bakkt is leading a new era of financial services innovation, focused on reimagining and unlocking the value of digital assets like rewards and loyalty points, gift cards, and cryptocurrency owned by Intercontinental Exchange (ICE). The company’s goal is to make all digital assets as liquid as any fiat currency.