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Bakkt and Starbucks Build the Trading Future

The Bitcoin futures trading platform Bakkt is reportedly launching an app and merchant portal for better customer experience.

The Bitcoin futures trading platform Bakkt is said to be focused on an app and a merchant portal. They are also testing their launch partner Starbucks in the beginning of next year.

Mike Blandina, the CPO of the company, comments:

“Our vision is to provide a consumer platform for managing a digital asset portfolio, whether they wish to store, transact, trade or transfer their assets.”

The company already has a Beta early access to the application and regarding merchants, they say that the focus is on controlling costs, freeing capital and maintaining a good relationship with customers.

Blandina claims that the infrastructure introduces new payments at lower costs, fast transactions and faster settlement times.

The CTO elaborates:

“Based on years of seeing how small shifts can lead to wholesale change in an industry, I have strong conviction that by driving more integration and efficiency across digital wallets, transaction processing and payment acceptance, there are meaningful opportunities for merchants and consumers to seamlessly interact using digital assets in ways that have not been previously considered. It is often said that digital assets will be successful when consumers don’t have to think about the technology underlying them.”

Bakkt Fundings

Bakkt has apparently set a new record of 1,179 traded Bitcoin Futures contracts.

Other partners for Bakkt than Starbucks are firms like as Boston Consulting Group, CMT Digital, Eagle Seven, Galaxy Digital, Goldfinch Partners, Alan Howard, and others.

The trading platform is said to have raised around 182.5 million dollars in 2018 during the first round of fundings, with post-money valuation at 740 million dollars.

Their mission, according to a blog post, is to “build trust in digital assets with the successful introduction of the Bakkt Bitcoin Futures and the Bakkt Warehouse.”

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