1 October 2026
Bakkt Launches its Digital Wallet App
Amid the increasing competition between financial institutions, Bakkt launches its Digital Asset Payments Application for the general public.
Intercontinental Exchange launched Bakkt in 2018, and the firm offers Bitcoin futures contracts to accredited investors exclusively. The newly launched Bakkt App is the firm’s first retail-facing crypto initiative. Bakkt’s app was trialled by 500,000 users invited specially to participate in its Early Access Program in 2020. The firm will also suppose to conduct a $1 million giveaway for encouraging people to download the platform.
The payments app enables users to manage Bitcoin and other digital assets, including loyalty points and vouchers, to make purchases. Over 75 major brands are offering discounted gift cards to purchasers who use the Bakkt app, including Choice Hotels, GolfNow, and Best Buy. Additionally, users can also manage their Starbucks Card balance through the platform, said Karl Hebert, Starbucks’ VP
“Starbucks is proud to be an innovation partner with Bakkt. Our teams worked closely together as Bakkt sought input in developing a unique and trusted payment experience that enables customers to unlock the value of their digital assets in the form of US dollars.” “We’re thrilled to bring the Bakkt App to the public as a step along our journey to expand digital asset access to all,” he further added
Within the announcement, Bakkt acknowledged the application is meant to allow “consumers and merchants to unlock the value of $1.2 trillion in digital assets” by incentivizing their use in commerce. “The Bakkt App is designed to amplify consumer spending, reduce payment costs, and bolster merchant loyalty programs.”
Bakkt anticipates that its new crypto payments app will unlock more than $1 trillion worth of digital assets for commerce. The news of Apps’ launching comes as competition between financial institutions is heating up in the crypto space, with PayPal rolling out crypto payments for 29 million merchants and Visa unveiling plans for USDC to be exchanged through its credit card network earlier this week. Goldman Sachs is also expanding its cryptocurrency services as the leaked memo revealed the creation of a Digital Assets Group within its private wealth management division.
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