The firm notes that adding Ethereum comes at a time when digital currency interest and adoption continue to see significant growth.
Bakkt Holdings, a trusted digital asset platform that enables consumers to buy, sell, send and spend a range of digital assets, announced that it is offering users and partners the ability to buy, sell, and hold ether (ETH), the cryptocurrency of the Ethereum network, starting soon. Users can also send Ethereum to family and friends directly through the Bakkt App. With the addition of Ethereum to its existing capabilities with bitcoin, Bakkt will offer users the ability to access two cryptocurrencies representing more than half of the total market value of all cryptocurrencies.
Adding Ethereum follows the company’s recent partnership with Google “to introduce digital assets to millions of consumers.” Furthermore, the firm went public in mid-October after completing a merger with a firm called VPC Impact Acquisition Holdings. BKKT shares are swapping for $32.61 and the company’s market valuation is $838.82 million on November 5. The latest offering will also give institutional clients the ability to leverage the Bakkt Warehouse for custody of Ethereum.
Now, in addition to bitcoin, partners can integrate with the Bakkt platform to enable their users to buy, sell and send Ethereum. Institutional clients can also choose the Bakkt Warehouse for custody of ether.
“At Bakkt, providing flexible opportunities for users to enjoy their digital assets is a top consideration, and adding Ethereum brings a popular and growing cryptocurrency to our roster,” said Bakkt CEO Gavin Michael. “Bakkt users have already enjoyed the app’s capabilities to leverage bitcoin and we are confident that our addition of Ethereum will be a complement to our growing ecosystem of partners and assets.”
Mastercard embeds Bakkt’s cryptocurrency offerings across its banking and shopping platforms, which allows users to buy, sell and hold digital currencies in their wallets. Mastercard partners — including restaurants and merchants — can issue cryptocurrency credit and debit cards and offer crypto as loyalty program rewards.
