Popular crypto trading platform which delivers physically settled Bitcoin futures has received a new funding round worth $300 million. The Series B funding round had participants which include Bakkt’s parent company Intercontinental Exchange (ICE), Boston Consulting Group, CMT Digital, Microsoft’s M12, Goldfinch Partners, and Pay U.
The announcement was made in an official blog post written by Bakkt CEO Mike Blandina. The CEO says that even as the crypto market is growing impressively, people still find it hard to understand and access cryptocurrencies, especially for specific needs. This is what the upcoming Bakkt app aims to solve.
In October last year, Bakkt announced plans for an app that will be of great value to both merchants and consumers. The Bakkt app will allow people to easily conduct business using cryptocurrencies.
The recent announcement dives a bit deeper into the Bakkt app and its benefits. According to Bakkt, the app will allow its users more control of their crypto portfolio. The app will also allow users to pool all other digital assets including crypto, loyalty points from stores, and airline miles, into the native wallet. From there, the possibilities are somewhat limitless.
“In just a few taps you can use those assets to shop at your favourite merchants, send them to family and friends, or convert them to cash. We believe that you hold more value than you realize and we’re here to help you track, spend, and send your digital assets however you want.”
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