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Bakkt Launches Peer-to-Peer Transfers to None Users

Bakkt Launches Peer-to-Peer Transfers to None Users
  • Bakkt users can now transfer digital assets to none app users.
  • App users will be able to make the transfers using email.
  • Also, Bakkt has recently signed several key partnership deals.

Bakkt launched a new feature that enables users to make peer-to-peer transfers to none app users. As such, users can now send bitcoin, gift cards, and money to anyone. CEO Gavin Michael stated,

“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.”

In fact, users will be able to use the recipient’s email address to make the transfer. However, the feature is only available on the app’s latest version. Thus, to avail of the new feature users must upgrade the app or download the latest version. Notably, an upgraded version of the app is available on both iOS and Android app stores.

To clarify, Bakkat is a financial services provider that unlocks digital asset rewards, loyalty points, gift cards, and cryptocurrency. Presently, Bakkt has unlocked over $1.2 trillion in digital assets. Also, Bakkt is owned by Intercontinental Exchange, the same group that owns the New York Stock Exchange.

The Bakkt product line also includes a wallet that enables users to manage all their assets in one place. In addition, the wallets tracks spending, thus helping users better manage their assets.

Prior to this announcement, Bakkt also signed several strategic partnership deals. The first deal is with Wyndham Rewards. Going forward, Wyndham Hotels and Resorts members will be able to track and convert loyalty and reward points using Bakkt. Secondly, Bakkt partnered with Cantaloupe to enable users to make retail purchases using bitcoin and loyalty points. Specifically, Bakkt users will now be able to make purchases using over a million devices including vending machines.

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Avid reader and writer with a passion for sharing crypto news and trends. Uses her background in finance to help readers better understand the crypto market and investments. Hopes to see mainstream crypto adoption in the near future, especially in Africa.