Institutional platform Bakkt announced support for the second-largest cryptocurrency by capitalization, Ethereum.
Read: Chicago Mercantile Exchange (CME) Will Launch Ethereum Micro Futures In December
We’re pleased to offer the ability to buy, sell, and hold ether (ETH), the cryptocurrency of the Ethereum network, starting soon. https://t.co/ml71eEeXoX #cryptocurrency #ethereum pic.twitter.com/tN4MThWFia
— Bakkt (@Bakkt) November 5, 2021
Bakkt writes:
“Now, in addition to bitcoin, partners can integrate with the Bakkt platform to enable their users to buy, sell and send Ethereum. Institutional clients can also choose the Bakkt Warehouse for custody of ether.”
Read: Goldman Sachs Says Ethereum Could Rise To $8000 By Year-End
Bakkt decided to add ETH because of the growing interest and adoption of cryptocurrencies. Recently conducted Bakkt’s study which included 2000 US citizens finds that almost half of the respondents have invested in one or another cryptocurrency over the past year.
Bakkt CEO Gavin Michael said:
“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.”
Read: CryptoPunk #7557 Was Mistakenly Sold For 4.444 Ethereum Instead Of 444 ETH
In March 2021, the platform launched a mobile application that allows users to store, buy and sell bitcoin. The app is available on iOS and Android.
In June, Bakkt partnered with Sutton Bank to launch a Visa debit card. Later, its holders were able to spend bitcoins through Google Pay.
In August, the company announced a pilot project that allows the fast-food chain Quiznos to accept payments in the BTC.
On October 17, Bakkt announced the completion of its merger with SPAC VPC Impact Acquisition Holdings.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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