New Visa Card Allows Bakkt Users to Spend Bitcoin in Stores and Online
Bakkt is majority-owned by Intercontinental Exchange, which operates over a dozen of the world’s most prominent exchanges including the New York Stock Exchange. Bakkt App has expanded its offerings with a new virtual Bakkt Visa Debit Card, that allows the customer to maximize the ability to spend digital assets. The virtual Visa card can be added to Apple Pay or Google Pay to purchase items at thousands of retailers supporting the mobile payment systems.
Bakkt Card Can Be Linked to Apple Pay and Google Pay
Debit cards issued by crypto companies bridge the gap between bitcoin and merchants that are yet to start accepting digital coins. Now there is a new offering in the market. Crypto marketplace Bakkt has launched a debit Visa card that “will maximize users’ ability to spend digital assets.” The card allows Bakkt customers to use their bitcoin (BTC) and fiat cash (USD) balances to buy goods and services, both online and in-store.
The card can be used through the popular Apple Pay or Google Pay mobile wallets which opens the door to thousands of retailers around the world. Bakkt CEO Gavin Michael stated out:
“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 the digital assets in their day-to-day lives.”
Users Can Order the Visa Card via Bakkt App
The executive said, instead of selling their crypto and waiting for a bank transfer, Bakkt users can now walk into a store, tap their Bakkt Card and pay for the item they want to purchase.
The Bakkt crypto card is issued by Sutton Bank, a member of the Federal Deposit Insurance Corporation, pursuant to a license from Visa USA Inc. To obtain a virtual Visa, users will have to apply via the Bakkt wallet app. The platform says it’s “enabling this real-world spending, alongside the ability to invest in and hold bitcoin with no transaction fees.”
