Bakkt Holdings has announced the launch of the Bakkt App, the game-changing digital wallet that brings together bitcoin and other forms of digital assets into one platform.
The Bakkt App gives consumers the power to use their digital assets how they prefer – converting participating rewards points to cash or using bitcoin as payment, for example – all within one easy-to-use application. By enabling consumers and merchants to unlock the value of the $1.2+ trillion in digital assets currently held in cryptocurrencies, loyalty and rewards points, and gift cards, the Bakkt App is designed to amplify consumer spending, reduce payment costs, and bolster merchant loyalty programs.
The Bakkt App saw over 500,000 users participate in its invitation-only Early Access Program, as new features were released and tested prior to its public debut. Now available to the public in the App Store and Google Play Store, the Bakkt App launches with industry and brand leaders including Starbucks, GolfNow, Best Buy, Choice Hotels, and Fiserv.
Customers can now use Bakkt to reload their Starbucks Card through the Starbucks® app for iOS. This new digital experience introduces a new payment choice for Starbucks customers, who can convert supported loyalty and rewards points, bitcoin, frequent flyer miles, and gift cards in the Bakkt App into USD to then reload their Starbucks Card saved in the Starbucks app.
“The average consumer holds a wealth of digital assets – from gift cards to loyalty points to bitcoin – but lacks the tools to adequately track and utilize their value,” said Bakkt’s CEO, Gavin Michael. “We’re thrilled to bring the Bakkt App to the public as a step along our journey to expand digital asset access to all.”
“Starbucks is proud to be an innovation partner with Bakkt. Our teams worked closely together as Bakkt sought input in developing a unique and trusted payment experience that enables customers to unlock the value of their digital assets in the form of US dollars. We are excited that customers now have the opportunity to use Bakkt to load their Starbucks Card in the Starbucks app and then use it to pay at Starbucks,” said Karl Hebert, Starbucks VP of global card, commerce and payment.
“As a technology leader in our sport, GolfNow is excited to join with Bakkt to further diversify payment solutions for our more than 3.5 million members,” said Jerramy Hainline, Senior Vice President and General Manager, GolfNow. “The potential our partnership presents is very compelling, creating an opportunity to make golf even more accessible by giving our customers the ability to convert crypto, gift cards and unused loyalty points into a round of golf.”
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