Bakkt to Roll Out Crypto ‘Consumer App’ by 2020

Bitcoin futures exchange and digital assets platform, Bakkt is set to deliver more fully on its promise to build trust in digital assets, by launching a consumer app next year, according to a blog post on Monday.

Mike Blandina, Bakkt’s chief product officer announced the soon-to-be-launched consumer app that will “make it easy for consumers to discover and unlock the value of digital assets, as well as ways in which they can transact or track them.”

In addition to allowing customers to store, transact, trade, or transfer their assets, the new app is reportedly designed to support a superset of digital assets, facilitating transactions in the same way that investors transact stocks in a retail brokerage account. 

Blandina noted that the Bakkt consumer app will enable merchants to access a broader set of customers with expanded spending power, and can drive more integration and efficiency across transaction processing, digital wallets, and payment acceptance.

[…] there are meaningful opportunities for merchants and consumers to seamlessly interact using digital assets in ways that have not been previously considered. It is often said that digital assets will be successful when consumers don’t have to think about the technology underlying them,” Blandina wrote

With more focus on the development of the consumer app and merchant portal, the platform is expected to go live in the first half of next year, as well as the testing with Bakkt’s first launch partner, Starbucks, a coffee company.

The development today is coming after the exchange saw a new trading record of 1,179 contracts on Friday, the same week Coinfomania reported that Bakkt would launch the first regulated option contract for bitcoin futures on in the next two months.

That separate move apparently signals a high demand from users on the need to develop a bitcoin options contract for institutional investors, their customers, and other investors. 


Image by Gerd Altmann from Pixabay