Bakkt Enables Ethereum Offering on Its App

Bakkt Enables Ethereum Offering on Its App

November 5, 2021

Bakkt, the cryptocurrency arm of Intercontinental Exchange (ICE), announced on Friday that it had enabled its users the ability to buy, sell, and hold Ethereum (ETH). According to the press release, the offering will be available via the Bakkt App.

Moreover, Bakkt’s partners could integrate with the platforms to enable their users to access this brand-new feature in the crypto branch of ICE. For example, institutional clients could pick the Bakkt Warehouse for custody purposes, the company stated. Additionally, users could download the Bakkt App via Google Play Store and App Store.

“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. 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,” Gavin Michael, CEO of Bakkt, commented on the matter.

Crypto Adoption Increases in the United States

The announcement comes in the wake of a recent survey, the ‘US Consumer Crypto Survey,’ which revealed that nearly half of respondents had acquired some form of cryptos within the last year, Bakkt said.

In June, Bakkt 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. The Bakkt App allows its users to apply for the Bakkt Card from within the App, and once it gets approved, users can spend their funds right away from the Bakkt App without having to wait for conversion times or bank transfers from a separate Bitcoin wallet to their bank account.

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