Bitcoin futures exchange and digital assets platform, Bakkt, has launched a virtual crypto debit card, allowing customers to use their Bitcoin and cash balances to purchase everyday goods and services online or in-store.
According to a press release, Bakkt customers can now apply for a Bakkt Card via the Bakkt App. Once approved, users can spend Bitcoin and cash (USD) funds from their Bakkt App account right away, without having to first convert their Bitcoin, or wait for a bank transfer from a separate Bitcoin wallet to their bank account.
Bakkt Card allows users to use bitcoin for online and in-store purchases, expanding utility of cryptocurrency. #BakktCard https://t.co/OHz0cPUHgE
— Bakkt (@Bakkt) June 22, 2021
“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.” Said Gavin Michael, Bakkt CEO, and adding that:
“Very soon selected rewards customers will have the same flexibility – leveraging their points to pay for a lunch out with friends or even an impulse purchase.”
The Bakkt debit card release follows a new feature released in March 2021, that enables users to make peer-to-peer transfers to non-app users. Users are now able to send BTC, gift cards, and money to anyone via their email address.
Feature image by Token Boss from flickr