- Bakkt has likened its upcoming consumer app to a crypto version of PayPal
The President of Bakkt, Adam White, spoke at the World Economic Forum in Davos regarding the Bakkt consumer app which is coming in 2020. Apparently this app will look more like a crypto version of PayPal than a crypto exchange.
Bakkt is well-known for being the first exchange to launch physical Bitcoin futures, and they have just now launched Bitcoin options as well. However, for years, Bakkt has promised to offer retail solutions for crypto, and based on White’s announcement it appears Bakkt is focused on making that promise become a reality in 2020.
So far, it has been revealed that the Bakkt consumer app will support tokenized loyalty rewards programs, equity trading, crypto asset trading, and a portal for merchants to accept crypto. Essentially, unlike popular exchange Coinbase which mostly just offers the ability to buy, sell, and accept crypto, the Bakkt consumer app aims to be a comprehensive app for all sorts of blockchain-based fintech.
That being said, there is no official timeline yet for the launch of the Bakkt consumer app.
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