More crypto assets made available to users by the Bakkt application

Intercontinental Exchange (ICE) has announced that it will acquire the loyalty program provider Bridge2Solutions. The acquisition is expected to be finalized by the end of March and will accelerate the integration of the Bakkt consumer application.

Bridge2 manages multiple loyalty rewards platforms for merchants and financial institutions. According to an evaluation by Fortune, this represents a market worth $ 60 billion.

Bakkt intends to use Bridge2’s existing business relationships to expand its own consumer application.

With the Bridge 2 Loyal Pay pilot project, merchants can choose to connect the payment process directly to the Bakkt application. In this way, they do not have to pay the banks the fee of about 2.5%. Merchants can issue their own digital credit cards bearing their brand, and the system will convert the cash rewards to their customers.

Several crypto assets integrated into the Bakkt application

Bakkt will charge a small fee for managing the transaction between the reward and cash points, but the fee will be much lower than the exchange rate traders have to pay today, according to Fortune.

Bakkt’s consumer app is slated to launch in the first half of 2020 and will most likely support more crypto assets, not just Bitcoin. The Loyal Pay program is still in the pilot stage, and the integration of the two will probably take a few more months.

“Combining Bridge2Solutions’ built-in relationships with banks and merchants and their innovative loyalty payment solution will allow us to launch new products that further drive loyalty and empower consumers to trade, transfer and spend digital assets in entirely new ways.” ,

Bakkt Executive Director Mike Blandina said in a press release.