The Intercontinental Exchange (ICE), the parent company of the New York stock exchange and the Bitcoin platform Bakkt, plans to own information, to revolutionize the industry for digital assets by bringing BTC and crypto payments into the Mainstream.
The ICE has stated that they want to take on Bridge2 Solutions, a platform that promotes loyalty and commitment between brands and consumers. Bakkt will use Bridge2, in order to accelerate the development of an App for consumer payments, the crypto-payments to convert the world and processed. So far, has focused Bakkt to create confidence and stability in the market for trading crypto-currencies in that it has introduced its Bitcoin and Futures contracts for institutional investors. Now the company says that the partnership with Bridge2 Solutions allows him to transform the 1.2 trillion Dollar industry for digital assets, as Bridge2 Solutions loyalty programs for seven of the ten largest financial institutions and more than 4,500 Loyalty, incentive and employee compensation operates programs for companies in a variety of industries.
Bakkt plans to pack loyalty points, crypto-currencies, gift cards, digital assets in the game, and other forms of virtual rewards in a seamless user interface. Bakkt chief Mike Blandina said:
“With the introduction of the Bakkt App, we offer to the consumers for the first time, a robust platform to consolidate all of your digital assets, crypto – and loyalty points to game brands, in a user-friendly wallet and use it.
The combination of the embedded relationships of Bridge2 Solutions with banks and traders, and its innovative Loyalty Pay solution will enable us to introduce new products, promote the loyalty and the consumer enabling you to trade digital assets in a completely new way to transfer and spend.
So far, Bakkt has yet published an official start date for its App. It is expected that a product will be released Roadmap for sometime this year. Bakkt President Adam White shared the information about the App in his speech in Davos at the world economic forum. During a panel at the event of The Block, which was organized by E8 partner on Wednesday in Davos during the world economic forum, said White, the Bakkt application for consumer values digital assets as any Form of value to consider, the digital, including crypto-currencies such as Bitcoin.
This means that the App could also support virtual goods, such as loyalty points and share. Due to the possible inclusion of stock trading, a portal for traders and a variety of other Assets, the App is a traditional Fintech would be a product such as PayPal a similar to as a crypto-offering, which allows merchants to accept Bitcoin.
Bakkt also offers institutional custody services, whose clients include Galaxy Digital and Tagomi. The recent election of the CEO shows that the company takes their upcoming offer for consumers as seriously (if not even more serious). Bakkt appointed Mike Blandina, at the end of last year, the new CEO and the successor to Kelly Loeffler, who was appointed U.S. Senator for the state of Georgia. In fact, Blandina said in an October blog post that the company will focus on building the consumer application and the merchant portal, for the Starbucks as the Start-up-partners acts. On the Podium, White also commented on the General state of the crypto market and noticed that a “Killer App” had not yet been realized.
I don’t think we’re there yet. What makes me optimistic is that we see a great interest of the developers. I am confident that someone will find something.
Featured Image: Volodymyr Plysiuk | Shutterstock