Bakkt Launches Bakkt® Visa® Debit Card to Maximize Users' Ability to Spend Digital Assets

Bakkt Card allows users to use bitcoin for online and in-store purchases, expanding utility of cryptocurrency

ALPHARETTA, Ga.--(BUSINESS WIRE)--Bakkt Holdings, LLC (“Bakkt”), the digital asset marketplace behind the Bakkt App, has expanded its offerings with a new fully virtual Bakkt® Visa® Debit Card (“Bakkt Card”). The Bakkt Card allows customers to use their bitcoin and cash balances to purchase everyday goods and services online or in-store wherever Apply Pay® or Google Pay^TM are accepted, which includes hundreds of thousands of retailers, grocery stores, transit options and more.

“As we continue Bakkt’s journey, our goal first and foremost is to offer more choice for consumers, and the Bakkt Card untethers bitcoin owners from their online-only past into a world with countless options to leverage the digital assets in their day-to-day lives,” said Gavin Michael, Bakkt CEO. “Imagine a bitcoin user who sees a significant gain. Now, instead of selling and waiting to transfer to a bank, they can simply walk into their favorite store, tap their Bakkt Card and buy that new item they’ve been eyeing. Very soon selected rewards customers will have the same flexibility – leveraging their points to pay for a lunch out with friends or even an impulse purchase.”

Bakkt customers can now apply for a Bakkt Card via the Bakkt App. Once approved, users can spend bitcoin and cash (USD) funds from their Bakkt App account right away, without having to first convert their bitcoin or wait for a bank transfer from a separate Bitcoin wallet to their bank. Following the explosion in popularity of cryptocurrencies, including bitcoin, this year, more people than ever are looking for ways to leverage their digital assets. Bakkt is enabling this real-world spending, alongside the ability to invest in and hold bitcoin with no transaction fees. *

The Bakkt® Visa® Debit Card is issued by Sutton Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc.

To download the Bakkt App, visit the App Store and Google Play Store.

About Bakkt:

Bakkt is a trusted digital asset marketplace that enables institutions and consumers to buy, sell, store and spend digital assets. Bakkt’s retail platform, now available through the recently-released Bakkt App, amplifies consumer spending, reduces payment costs, and bolsters loyalty programs, adding value for all key stakeholders within the Bakkt payments and digital assets ecosystem. Launched in 2018 by Intercontinental Exchange, Inc., Bakkt is headquartered in Alpharetta. For more information, visit: https://www.bakkt.com/.

*Bakkt does not charge a per-transaction fee like most other platforms do; however, we sell bitcoin to our customers at a slightly higher price than our computed market price (this difference is sometimes called a margin or spread). Our spread for bitcoin purchases will be no more than 1.5% throughout 2021.