Bakkt, the cryptocurrency arm of Intercontinental Exchange (ICE), has announced on Tuesday that it enabled a feature for its users to send Bitcoin (BTC), gift cards and cash to everyone, even to those who are not using the native app of the firm, Bakkt App. According to the press release, the function now allows sending virtual currencies instantly.
Currently, the app relies on peer-to-peer (P2P) technology to send digital assets by providing a wallet to store all cryptos and arrange these Payments . With the new features, users should update their existing version of the Bakkt App. “We are excited to introduce our P2P to anyone capabilities to broadly expand consumer payment options in the digital asset space. Bakkt has aimed to provide the app, marketplace and payments infrastructure to make all digital assets transactable, and this new functionality welcomes everyone to have a frictionless digital experience to send and receive bitcoin, gift cards or cash to anyone,” Gavin Michael, CEO at Bakkt, commented.
The app is currently available on the App Store and Google Play Store. To arrange the new kind of payments, Bakkt App users should choose the 'Send' option and then pick Crypto, Gift Card or Cash to send the preferred alternative to any person.
License from New York Regulators
“By empowering users to track, spend and send digital assets, the Bakkt App enables consumers to understand the full scope of their digital assets to unlock their greater value, while giving merchants and loyalty program sponsors deeper customer engagement and a lower cost of payment acceptance,” the firm stated in the announcement.
The Atlanta-based cryptocurrency platform owned by the Intercontinental Exchange received in March a BitLicense from the New York State Department of Financial Services (DFS), becoming the 29th company at that time to obtain the crypto license. Founded in 2018, Bakkt is one of the fastest-growing crypto companies.
