BTC Company Bakkt To Start Offering Ethereum To Its Customers

The BTC company Bakkt will soon start offering Ethereum to its customers while right now It only deals with Bitcoin so let’s read more in our latest Ethereum news today.

Crypto platform Bakkt announced it will soon start offering Ethereum to its customers. It was launched in 2018 by the Intercontinental Exchange as the parent company of the New York Stock exchange and currently, it deals only in Bitcoin. The US company offers a huge number of services including a BTC futures trading service as well as a mobile app that allows users to spend their BTC in shops. However, Bakkt’s services will soon include Ethereum as the second-biggest cryptocurrency by market cap. Its CEO Gavin Michael said:

“At Bakkt, providing flexible opportunities for users to enjoy their digital assets is a top consideration, and adding Ethereum brings a popular and growing cryptocurrency to our roster.”

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Users will be able to purchase and sell Ethereum but also send it to contacts via the app alone and even spend the coins at a shop via a Visa debit card that launched in June. Bakkt’s institutional clients can use the custody service of the company to store Ethereum as well. The company is based in Alpharetta, Georgia but it didn’t give a specific date for when the users will be able to start dealing in ETH. Bakkt started trading as a public company a month ago following a merger with VPC Impact Acquisition Holdings and trades on NYSE under the ticker “BKKT.” the company also partnered with Google to allow users to spend more crypto with Bakkt Visa debit cards especially for the merchants which use Google Pay around the world. It is also using the Google cloud to build a new analytics system with machine learning, artificial intelligence, and geolocation.

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As reported recently, Google partners with Bakkt, the digital asset marketplace to expand the usability of crypto, and as outlined in the press release from BusinessWire, the users can spend Bakkt Card crypto funds right from Google Pay. This came after Bakkt released its Visa Debit Card earlier his year and now the customers will be able to make the transactions via digital assets wherever Google Pay gets accepted. The process will convert crypto into fiat before arriving in the recipient’s account and this way, the digital assets can be used to pay for everyday products both online and in-store.

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Author: Stefan