Bakkt Announces Its New Visa Debit Card

Bakkt, the cryptocurrency arm of Intercontinental Exchange (ICE), announced on Tuesday that it had launched a new virtual Visa debit card, dubbed 'Bakkt Card'. According to the announcement, the new product will allow users to spend their Bitcoin (BTC) and cash balances to purchase goods, services online and even pay in physical stores where Apple Pay or Google Pay are accepted.

Bakkt customers who want to apply for the card should do it via the Bakkt App, and once it gets approved, users could use their funds right away from their Bakkt App without having to wait for conversion times or bank transfers from a separate Bitcoin wallet to their banks.

“As we continue Bakkt’s journey, our goal first and foremost is to offer more choice for consumers, and the Bakkt Card untethers bitcoin owners from their online-only past into a world with countless options to Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term the digital assets in their day-to-day lives,” Gavin Michael, Bakkt’s CEO, commented on the launch.

Furthermore, he hinted at the possibility of offering selected rewards “very soon,” where customers could leverage their points to arrange Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term. “Imagine a bitcoin user who sees a significant gain. Now, instead of selling and waiting to transfer to a bank, they can simply walk into their favorite store, tap their Bakkt Card and buy that new item they’ve been eyeing,” Bakkt’s CEO added. The company clarified that Sutton Bank issues its debit card.

Recent Features Announced

Last week, Finance Magnates reported that Bakkt 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. 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.