Bakkt Consumer App to Help Loop in Mainstream Users – Pantera Capital Partner

Must Read

Gen2 Technologies’ Iris Media Network Signs Up Colin Garrett Racing

SPARKS, Nev., April 14, 2021 /PRNewswire/ -- Gen2 Technologies Inc. (the "Company") (OTC: MNIZ) is pleased to...

Ethereum Blockchain: Current news and prediction round the future

 Ethereum is more sheltered than you may think, but by means of a decentralized app or exchange that hasn't...

Racing For Heroes selects Gen2 Technologies as a Key Technology Partner

SPARKS, Nev., April 7, 2021 /PRNewswire/ -- Gen2 Technologies Inc. (the "Company") (OTC: MNIZ) is proud to...
- Advertisement -
Earn Free Bitcoin

The consumer app of ICE’s Bakkt that will be launched this summer will bring “accessibility, understanding, and utility to digital assets,” according to Paul Veradittakit, a partner at Pantera Capital, an institutional investor that recently contributed to Bakkt’s $300 million Series B funding.

In his blog post, Veradittakit said this is a “critical step” to boost the credibility of digital assets as legitimate and help “loop in mainstream users to the digital space.”

Launched in September 2019, Bakkt started as a regulated bitcoin custodian for institutional users but with its consumer app, it will expand its focus more broadly in order to include mainstream users. This, he said, “fits well with the broader financial trend of democratizing the space.”

In this app, a user will be able to manage all of their digital assets while being offered a checking account, rewards programs and much more. It will show why cryptos are useful, will drive user engagement, and identify new opportunities for both merchants and suppliers, Veradittakit said.

So far, the core product of Bakkt has been a digital wallet to manage all the digital assets from crypto, hotel stay points, game points, airplane miles, and USD. But they have plans for hosting equities and enabling equity trading as well.

Overall, the idea is to increase the accessibility to digital assets management and bolster mainstream interest and confidence in the crypto space.

Bitcoin Physical Delivery Jumps on Bakkt

In other news, the physical delivery of Bitcoin on Bakkt increased 44%, as of March 20.

“Physical BTC delivery on Bakkt increased 44% in March, although being relatively flat in USD. Despite the recent market instability, Bakkt seems relatively unaffected,” Arcane Research reported.

This has been despite the price of bitcoin falling to $3,850 in mid-March.

Bakkt, which started as the first platform to offer physical bitcoin delivery, had a rough start as it delivered only 15 Bitcoins in October and 17 the next month, however the trend seems to lift off this year. In December, it also launched cash-settled bitcoin futures.

- Advertisement -
- Advertisement -

Latest News

Bitpanda raises $170M in funding round

Austria-based cryptocurrency firm Bitpanda has closed a $170 million funding round to further the firm's international growth.
- Advertisement -Earn Free Bitcoin

Ken The Crypto tells You How to Get the Most out of the 2021 Bull Run

The year 2021 is what people call the "Bitcoin Year", and the reason is self-explanatory. This recent bull-run has brought...

DigiShares Releases Industry Report on Real Estate Tokenization

DigiShares, a white label security token issuance solutions provider, has released a detailed report outlining the state of the global...

Gen2 Technologies (MNIZ) To Hold Quarterly Update

SPARKS, Nev., March 29, 2021 /PRNewswire/ -- Gen2 Technologies Inc. (the "Company") (OTC: MNIZ) wishes to inform its loyal shareholders that it...

Digital Securities & Tokenization Summit Announced for May 2021

Press Release 24 March 2021 DigiShares, the end-to-end white-label platform for...