Bakkt mobile payment app is being tested by Starbucks

Crypto derivative supplier Bakkt has announced that it has raised $ 300 million in its latest round of funding. According to the announcement by CEO Mike Blandina, the main contributors to this round were Intercontinental Exchange, PayU, Microsoft M12, Goldfinch Partners, Boston Consulting Group, Pantera Capital and CMT Digital. The funds will be used to build and promote the Bakkt mobile payment application.

Bakkt’s core services include end-to-end transactions and custody solutions for institutional investors. The platform also intends to offer intelligent digitization through a mobile application. Blandina said the new product will allow users to aggregate their digital assets, including Bitcoin, air miles and loyalty points, into a single digital wallet.

“In just a few clicks, you can use those assets to shop at your favorite merchants, send them to family and friends, or convert them into cash. We believe you have more value than you realize, and we are here to help you track, spend and send your digital resources whenever you want. “

is mentioned in the press release.

“I am excited about our potential to unlock nearly $ 1 trillion in digital assets when the Bakkt application launches this summer,”

added Blandina.

Starbucks is testing the Bakkt Cash mobile payment application

In addition, some users of the Starbucks mobile app have noticed the “Bakkt Cash” payment option. According to the cafe network spokesperson, the Bakkt Cash option is still in limited beta.

“Currently, we carry out a limited test for our customers, using the Bakkt payment method. Customers can see Bakkt as an option, but at the moment it only works in the test system ”.

In the statement, Starbucks confirmed that it remains a “strategic launch partner” for Bakkt’s digital wallet mobile application.

“We believe that a number of cryptocurrencies will gain traction with customers and, through our work with Bakkt, we will be uniquely positioned to take this evolution into consideration and to offer customers new and unique ways to pay seamlessly at Starbucks.” .