Bakkt Has Launched its Bitcoin App and Announced Starbucks Partnership

Bakkt, the Bitcoin futures platform launched and operated by the Intercontinental Exchange (ICE), has released its long-anticipated application. Dubbed Bakkt App, it would enable customers to interact with BTC and other crypto assets directly through the platform. Additionally, the company has partnered with several notable firms, including Best Buy and Starbucks.

Bakkt App Arrives

Launched in 2018, Bakkt enables institutional and accredited investors to receive BTC exposure through its regulated platform. The company has touted the release of an application for years, and earlier this week, it announced that the product has finally arrived.

According to the statement, the application would serve as a digital wallet that “brings together bitcoin and other forms of digital assets into one platform.” It would enable customers to convert participating reward points to cash or using the primary cryptocurrency as a method for payments.

The official release of the app comes after an invitation-only Early Access Program, in which 500,000 users carried numerous tests. Upon the launch, customers would be able to download it from the leading smartphone stores, including the App Store and the Google Play Store.

“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. We’re thrilled to bring the Bakkt App to the public as a step along our journey to expand digital asset access to all.” – commented Bakkt’s recently-appointed CEO, Gavin Michael.

Starbucks and Best Buy on Board

The statement also informed that Bakkt, which is on its way to becoming a publicly traded company, has partnered with notable names such as Starbucks and Best Buy.

The collaboration with the giant multinational chain of coffeehouses will enable clients to reload their Starbucks Card through the company’s application for iOS through Bakkt. This would allow them to convert loyalty and rewards points, bitcoin, frequent flyer miles, and gift cards in the Bakkt App into USD and reload the Starbucks Cards.

“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.” – said Starbucks VP of global card, commerce, and payment – Karl Hebert.

Another partnership with GolfNow will allow customers to use the Bakkt App for payment solutions to its more than 3.5 million members.