Bakkt launches a Consumer App for Bitcoin payments at Starbucks in 2020
Bakkt developed a new Consumer App for payments with crypto-currencies. The company intends to use the new App in the first half of next year to bring out. To the Launch partners of the coffee-giant Starbucks is include.
After Bakkt reached on Friday a trading record of 1.179 contracts to its Bitcoin Futures and the upcoming launch of the first regulated Bitcoin options in December had announced that it takes Bakkt to travel. The company said yesterday that it is now focusing on the development of a Consumer App and merchant portal, the use of crypto-currencies and Bitcoin (BTC) to advance.
In the announcement it says:
We will be launching a Consumer App, to make it easier for consumers to discover the value of digital Assets and unlock, as well as the possibilities to act or to follow. Traders will receive access to a wider range of customers with enhanced purchasing power.
Bakkt’s broader Mission is a huge Blockchain-based marketplace for Cryptocurrencies to build, which is aimed at the vast majority of consumers, who are new in the Digital Asset area, as well as various dealer serviced.
We started with the concept of a consumer-oriented platform, which provides the ultimate control over your digital Assets, including a high degree of flexibility in the use. For traders, we focus to offer more control over the costs, and innovative customer engagement by setting up capital and a direct relationship with their customer support.
Michael Novogratz, the CEO of Galaxy Digital, said that the Test of a Consumer App will be by Starbucks is a big deal for the crypto-currency market.
In the last three years, the crypto sector in many areas, such as trade infrastructure and institutional services experienced significant improvements. Some of the key factors of the market, such as regulatory clarity, increasing consumer acceptance and support from banks for Cryptocurrency-related Startups, however, are still critical and to look at weak.
Thus, some large retailers are planned, for example, already in mid-2018, and in particular in Japan and South Korea, the Integration of crypto-currencies. Most of the high profile Deals, however, are not completed still. Only a small number of traders accept direct crypto payments.
The new App from Bakkt this could change next year. As a founding partner of the Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange and Bakkt Starbucks could increase the acceptance of cryptocurrencies by consumers in the US market alone dramatically.
Mike Blandina, Chief Product Officer at Bakkt, stressed again this week the focus is on the development of its Consumer App and its partner Starbucks.
In the course of the last year, we have selected a strong Team of payment engineers and are nearing completion of our Central payment and Compliance platform. We are now concentrating on the development of the Consumer App and merchant portal, as well as testing with our first Launch Partner for Starbucks.
The Integration of a system that accepts crypto-payments from Starbucks could be a catalyst for other retailers encouraged, crypto-currencies, after years of disregard, possibly to integrate due to regulatory uncertainty, volatility, and the lack of viable services in this sector are available.
The development of the Bakkt-Starbucks partnership is done after the call of the Chinese President Xi Jinping to accelerate the development of the Blockchain in China.
Featured Image: Shawn.ccf | Shutterstock
