Bakkt’s crypto payment app “finally” is here

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2021-04-01 22:12:26

After many delays, Bakkt finally launched its digital wallet application with partners like Starbucks, realizing the dream of buying coffee with Bitcoin that many people had expected.

Bakkt’s cryptocurrency payments app is “finally” out there

Initially, this product was expected to reach users in early 2020, however, market and legal issues have repeatedly created barriers that will not be completed until March 2021. goodness.

The app drew 500,000 users during its test run with just an invitation before its public launch Tuesday, Bakkt said in a press release.

The app was announced in October 2019, with a launch scheduled for the first half of 2020.

The COVID-19 pandemic seems to have disturbed Bakkt’s original plans, as the application was primarily focused on the hospitality and tourism sectors.

Bakkt aims to encourage users to use cryptocurrencies to pay for convenient services such as earning points for airline tickets, gift cards and other redemption points.

“Customers can now use Bakkt to reload their Starbucks Cards through the Starbucks iOS app,” Bakkt said.

Other partners of the app include Best Buys, Choice Hotels, Fiserv and GolfNow.

On March 11, Bakkt became the latest crypto company to get the BitLicense. First granted to the Paxos in 2015, the BitLicense is New York’s program to regulate crypto companies. With the BitLicense, Bakkt will have fresh access to provide crypto trading in the financial center of the United States.

CHK aggregated

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