Quiznos customers will soon be able to pay in Bitcoin via Bakkt's app at certain Colorado locations.
Bakkt is a cryptocurrency-focused institutional investment firm that was spun out of Intercontinental Exchange, or ICE — an operator of large, regulated exchanges such as the New York Stock Exchange.
In September 2019, the firm launched its much-anticipated Bitcoin (BTC) futures trading platform. While the initial launch was underwhelming, with relatively low volume given the hype, Bakkt announced additional products in the following months such as fully regulated BTC options trading, cash-settled futures and a partnership with Starbucks.
Since its announcement, Bakkt has caught the attention of the crypto industry, as it marks a serious effort by the world’s largest exchange to onboard institutional investors into the burgeoning crypto asset class.
The firm also generated buzz in the industry after former CEO Kelly Loeffler became the first Republican woman to represent the state of Georgia in the United States Congress where she is expected to support crypto-friendly regulation.
Institutional inflow to crypto is only getting started, but the technology promises to improve the futures markets beyond crypto.6522
Touted for its ability to allow users to "leverage the digital assets in their day-to-day lives,” the Bakkt Visa debit card is now available for online and in-store purchases.5732
Intercontinental Exchange has sold its 1.4% stake in Coinbase to reduce the company’s debt.7404
Bakkt believes its new crypto payments app will unlock more than $1 trillion worth of digital assets for commerce.8205
Bakkt will also have a money transmitter license in the state of New York.12690
As Bakkt prepares to be listed on the NYSE, even more crypto companies could be going public in the future.23980
Bakkt's CEO did not mention whether the company decided to stay away from XRP due to Ripple’s ongoing legal issues.15554
ICE's institutional exchange, Bakkt, will launch on stock markets at a possible $2.1 billion valuation.11851
Regulated Bitcoin futures platform Bakkt is reportedly eyeing going public through a rumored merger.15003
Kelly Loeffler has lost the Georgia runoff election to Democratic challenger Raphael Warnock.6847
Crypto derivatives showed enormous growth in 2020 as nearly $2 billion worth of BTC options expired on Christmas day.24523
The price of Bitcoin has surpassed $23,000, and analysts predict where BTC is headed next after a significant rally.35935
Data shows whales are not selling large amounts of Bitcoin at the current BTC price and institutions are accumulating BTC.20324
Despite the milestone, Bakkt’s future volumes pale in comparison to those of top crypto exchanges Binance and Huobi.11120