Digital assets constitute a growing marketplace worth $1.6 trillion. Consumers, enterprises, and institutions need to take part in this economy and need a trusted partner to succeed. Bakkt aims to do this and more with its modern financial technology.
Cryptocurrency, NFT, gift cards, loyalty points, and in-game tokens are unique and cannot be interchanged. However, their value remains, and expanding the access to these assets and improving their liquidity is essential. Bakkt is positioned at the center of this digital asset ecosystem, with over 500,000 early-access participating consumers, access to 250 merchant partners, and nearly 100 institutional clients.
To Bakkt, flexibility means everything. “Our platform enables consumers to leverage their digital assets — from bitcoin, to select loyalty points, gift cards and merchant offers – in new and exciting ways. From purchasing your morning cup of coffee with crypto, to converting select loyalty points to cash, to redeeming airline miles towards a new laptop, to sending cryptocurrency or gift cards to family and friends, the possibilities are only as limited to one’s imagination,” comments Gavin Michael, CEO and President of Bakkt.
Since its conception, Bakkt has lowered the barriers for users to get a start in crypto and collaborated with premium brands to design attractive loyalty programs. The rapid success that Bakkt enjoys, going public on the NYSE in 2021, after its establishment in 2018, is a true sign that the delivers on its promises.
As a bridge connecting the digital ecosystem to everyone else, Bakkt has a broad division of clients and solutions specifically designed for each of them. In the complementary ecosystem that Bakkt is building, a wide range of digital assets are accessible to participants from the audience comprising consumers, businesses, and institutions alike
“Our partners appreciate Bakkt’s secure and regulated environment, broad spectrum of capabilities, and passion for designing seamless user experiences,” remarks Gavin Michael. Bakkt’s financial technology systems are designed to support contemporary digital assets and at the same time, they are also equipped to scale for the future. With digital assets evolving rapidly, users need a platform that will keep up with the changes without compromising on the developments already made.
At the core of Bakkt technology is its engine built to process transactions in real-time using the latest cloud technologies. With comprehensive security systems in place, the processing is adaptable and scalable without any security breaches.
In order to introduce the growing market of digital assets to consumers, Bakkt has joined hands with Google. With Google as the cloud provider, Bakkt will continue to market its solutions to retailers and markets in the US. Through this collaboration, Bakkt users will be able to add their virtual Bakkt Card to Google Pay to purchase everyday goods and services online, in-store, or wherever Google Pay is accepted.
The company also has plans to build new analytics with the aid of AI, ML, and geolocation functionality on its platform to draw out deep, location-aware business insights leveraging Google Cloud’s industry-leading tools. This will help Bakkt design better loyalty and reward options based on the consumers’ behavior.
Bakkt is also demystifying cryptocurrency for the masses. With Crypto Rewards, Bakkt closes a knowledge gap and alleviates barriers for customers to explore crypto. This rewards points system or milestones helps users reach their goals and also helps Bakkt to engage its target audience.
Powering loyalty points with a comprehensive suite of redemption programs integrates cryptocurrency into daily life and smoothens the clients’ shopping experience. Such a unified platform is a great way for customers from various walks of life to conduct transactions sans friction