Home>EXCHANGES>Bakkt Crypto Exchange to Buy Out Digital Services Provider
EXCHANGES

Bakkt Crypto Exchange to Buy Out Digital Services Provider



Bakkt will add the digital logistics company to its expanding list of offerings via its parent company, Intercontinental Exchange Inc. This move represents the increasing interest in cryptocurrencies by the legacy financial space.

ACQUISITION TAKES BAKKT IN A DIFFERENT DIRECTION
Established in 2018, Bakkt offers Bitcoin futures and custodial cryptocurrency solutions. Bridge2 Solutions is a provider of digital services such as loyalty programs and event tickets. Thus, Bakkt is clearly looking to expand beyond its current offerings.
Of particular note is the fact that Bridge2 Solutions works with dozens of the world’s largest retail companies, including Amazon.com, Target, and BP. Thus, the impact on crypto adoption could be tremendous.
Intercontinental Exchange will make the acquisition, but will pay for it with Bakkt’s soon-to-close series B funding.
Presently, Bakkt has focused on institutional investors, with purchase limits and custodial offerings geared toward large sums. Nevertheless, it has long been expected to expand into the consumer space. This move is thus not surprising.
Bakkt is also developing a consumer app, and is investigating cryptocurrencies other than Bitcoin.
MOVES INTO CONSUMER SPACE WILL CREATE MANY POSSIBILITIES
Bakkt has released no further details on this acquisition, yet the sector that it is moving into has extensive possibilities. Loyalty programs and digital consumer identity are now commonplace in the retail industry. Blockchain technology and cryptocurrency have long been seen as an excellent fit for these processes. 

Whereas it is too early to speculate on what products Bakkt may be planning, giving retailers the ability to reward customers with Bitcoin is a very real possibility. Moreover, more advanced blockchain-based solutions could be created based on smart contracts or decentralized applications (dApps). 
There is also little doubt that Bakkt has the talent and resources to bring such programs to fruition. It is extremely well-funded, and after a slow start has begun to become a key player in the crypto market. 
Also, the clients served by Bridge2 Solutions are known to be very interested in distributed ledger technology. Although few large retailers present accept cryptocurrency, virtually all are well aware of its advantages. Also, blockchain technology will soon be commonly used in fields such as supply chain and logistics. 
It is worth noting that the pace of blockchain development, and the advancement of the technology will create competition, should Bakkt take this route. Asset tokenization, for example, is an emerging field that is also well-suited for these applications. 
There is no doubt, however, that Bakkt’s current offerings are only the beginning. 
What do you make of Bakkt’s latest acquisition plans? Add your thoughts below!

Images via Shutterstock The post appeared first on Bitcoinist.com.

 

source: https://bitcoinist.com/bakkt-crypto-exchange-to-buy-out-digital-services-provider/

TheBitcoinNews.com is here for you 24/7 to keep you informed on everything crypto. Like what we do? Tip us some BAT

Send Tip now!

Post source: Bakkt Crypto Exchange to Buy Out Digital Services Provider

More Bitcoin News and Cryptocurrency News on TheBitcoinNews.com



  • Bitcoin
  • Ethereum
  • Bitcoin cash
  • Litecoin
  • Cardano
  • Dash
  • Stellar
  • Ethereum classic
  • Lisk
  • Tron
  • Neo
  • Qtum
  • Omisego
  • Binance coin
  • Zcash
Scan to Donate Bitcoin to 1J6PGL1oemFb3hxabLygq4WgWx8cbfji1r

Please help us if you can with some Bitcoin

Scan the QR code or copy the address below into your wallet to send some Bitcoin

Scan to Donate Ethereum to 0xA8E701dd11280a98e8F2e0A14064AC829E32D50F

Please help us if you can with some Ethereum

Scan the QR code or copy the address below into your wallet to send some Ethereum

Scan to Donate Bitcoin cash to qrth4e0g93h3gpxex8ycwuxtsa332tha5qvkmlz0g5

Please help us if you can with some Bitcoin cash

Scan the QR code or copy the address below into your wallet to send some Bitcoin cash

Scan to Donate Litecoin to LTxxjySMDtERJhHYJ99UFW9AamAWTwCAZ4

Please help us if you can with some Litecoin

Scan the QR code or copy the address below into your wallet to send some Litecoin

Scan to Donate Cardano to DdzFFzCqrhsopoZLhbouUwh2NvvWMPeFrXQW9vNNpPKrjKbRGyLRN5joJgCeZ6e1MRHtPHeLffpkNpQs5AdDA8qFCZ4gA9bYtaerNQTk

Please help us if you can with some Cardano

Scan the QR code or copy the address below into your wallet to send some Cardano

Scan to Donate Dash to XmAdEHrwiVZJVkAxe8hK5U6HZB59L5yhmK

Please help us if you can with some Dash

Scan the QR code or copy the address below into your wallet to send some Dash

Scan to Donate Stellar to GD4KROE42HPOMT7BT6M27HHLFCOSIXPYY2V3WSCX5FYEWRJDIJQ4RWFT

Please help us if you can with some Stellar

Scan the QR code or copy the address below into your wallet to send some Stellar

Scan to Donate Ethereum classic to 0x5BF3fCAC8deA20CF21C9D0D9d058E00EEfc431Ae

Please help us if you can with some Ethereum classic

Scan the QR code or copy the address below into your wallet to send some Ethereum classic

Scan to Donate Lisk to 15642042552518336132L

Please help us if you can with some Lisk

Scan the QR code or copy the address below into your wallet to send some Lisk

Scan to Donate Tron to TYnAenRiV6BsTiE6FVyAcDDxZtBKUQTFxN

Please help us if you can with some Tron

Scan the QR code or copy the address below into your wallet to send some Tron

Scan to Donate Neo to ATiXRHVqYqrNktbxJfcDETfnrSUWSG4cPb

Please help us if you can with some Neo

Scan the QR code or copy the address below into your wallet to send some Neo

Scan to Donate Qtum to QUYXxY6kX7TY2HSLwVYMwFaJNZLwvX5uyp

Please help us if you can with some Qtum

Scan the QR code or copy the address below into your wallet to send some Qtum

Scan to Donate Omisego to 0xA8E701dd11280a98e8F2e0A14064AC829E32D50F

Please help us if you can with some Omisego

Scan the QR code or copy the address below into your wallet to send some Omisego

Scan to Donate Binance coin to 0xA8E701dd11280a98e8F2e0A14064AC829E32D50F

Please help us if you can with some Binance coin

Scan the QR code or copy the address below into your wallet to send some Binance coin

Scan to Donate Zcash to t1cBCyKgSSqWaNrkpvQZUSTuxMmAbbAyFpZ

Please help us if you can with some Zcash

Scan the QR code or copy the address below into your wallet to send some Zcash



Source link

Review Overview

Summary