In Brief:
- Bakkt Holdings customers will soon be able to trade Ether.
- In addition to bitcoin, partners can integrate with the Bakkt platform to enable their users to buy, sell and send Ethereum.
- As per Bakkt, institutional clients can also use the Bakkt Warehouse for ether storage.
Bakkt, the Intercontinental Exchange’s cryptocurrency exchange platform, has announced that users and partners will soon be able to buy, sell, and hold ether (ETH), the Ethereum network’s cryptocurrency.
The Bakkt App also allows users to transmit Ethereum to family and friends. Bakkt will now be able to provide customers access to two cryptocurrencies, representing more than half of the entire market value of all cryptocurrencies, with the addition of Ethereum to its existing capabilities with bitcoin.
Bakkt’s Ethereum integration comes at a time when cryptocurrencies are becoming more popular and widely used.
Bakkt reported nearly half of respondents having purchased some type of cryptocurrency in the previous year in its “U.S. Consumer Crypto Survey”2, highlighting the growing popularity of cryptocurrencies. Many non-adopters indicated interest in converting to the asset class before the end of the year.
Partners can now integrate with the Bakkt platform to enable their consumers to buy, trade, and send Ethereum in addition to bitcoin. Also institutional clients can now store their ether at the Bakkt Warehouse.
Gavin Michae, CEO of Bakkt, 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.” He further added by saying, “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.”
Ethereum’s popularity has grown in recent months, and it currently ranks second only to bitcoin in terms of market share. Bakkt promotes the flow of digital commerce by allowing users more opportunities to buy, trade, spend, and send their digital assets, such as Ethereum, in line with the company’s goal of connecting the digital economy.
Also, the shares of the Alpharetta, Georgia-based company, which began trading on October 18, increased by almost 4% on Friday. Bakkt’s shares jumped last month after the company announced crypto payment agreements with Mastercard and Fiserv.
