Bakkt stated on Friday that users and partners would soon be able to purchase, trade, and keep ether (ETH). Additionally, users will be able to transfer Ethereum to relatives and friends using the app. Additionally, institutional customers may utilize the Bakkt Warehouse to store their ether.
The site is now offering ethereum in addition to bitcoin. These two coins provide users with access to two cryptocurrencies that together account for more than half of the market capitalization of all cryptocurrencies. However, the corporation did not provide a certain date for when its consumers would be able to take advantage of the Ethereum offers.
Additionally, the US-based corporation provides a variety of additional cryptocurrency-related services. They include a monthly bitcoin futures contract, cryptocurrency payments through a Visa debit card, and a Bakkt card compatible with Apple or Google Pay.
According to a study performed by the site, over half of respondents said that they had purchased some type of cryptocurrency during the past year. Others have shown an interest in acquiring the asset class before the end of the year.
Ethereum has grown in popularity over the years, and it is now the second-largest cryptocurrency, with a market capitalization of over $532 billion.
“By expanding consumers’ options for using digital assets such as Ethereum, such as purchasing, selling, spending, and sending, Bakkt enables the flow of digital commerce, which aligns with the company’s purpose of linking the digital economy.”
CEO Gavin Michael said in response to the platform’s recent news, “At Bakkt, we prioritize offering flexible ways for consumers to enjoy their digital assets, and adding Ethereum add a popular and growing cryptocurrency to our roster.”
“Bakkt customers have already benefited from the app’s ability to use bitcoin, and we are certain that adding Ethereum to our expanding network of partners and assets will enhance their experience.”
The corporation has made it a priority to increase crypto acceptance. It began trading on the New York Stock Exchange as a public business last month after a merger with VPC Impact Acquisition Holdings..
In October, the firm announced a partnership with Google to enable customers to spend their cryptocurrency using the Bakkt Visa debit card at any shop that accepts Google Pay. Additionally, it is using Google Cloud to develop new analytical capabilities via the use of artificial intelligence, machine learning, and geolocation.
Additionally, it teamed with Mastercard in October to allow institutions to provide a comprehensive suite of bitcoin products and services to their consumers. As a consequence of this cooperation, Bakkt’s shares increased to more than $25 per share.
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