Institutional Exchange Bakk Launches Crypto Debit Card

Bakkt announced Tuesday that the intercontinental exchange (IEC) has introduced a new virtual Visa debit card named “Bakkt Card” for retail purchases in terms of crypto transactions.

Crypto fans now have more options to enjoy their spending in terms of virtual currencies.  

The Alpharetta-based IEC has introduced their services by launching a new virtual Visa card to purchase goods and services for its clients through an online or in-store medium, according to the press release.

“Now, instead of selling and waiting to transfer to a bank, they can walk into their favourite store, tap their Bakkt Card and buy that new item they’ve been eyeing,” Gavin Michael, Bakkt CEO, said in a statement.

Michael also said the company aims to offer more choice for consumers and the Bakkt Card untethers bitcoin owners from their online-only past into a world with countless options, helping their customers to “leverage the digital assets in their day-to-day lives.”

Bakkt said their latest service could enable consumers to enjoy their spending by deducing Bitcoin and US dollars from their account balance directly, without further delay to convert crypto into fiat money. In addition, customers can now apply for a debit card through their app.

Last year, Bakkt expanded its financial services to institutional investors and integrated its token cash with the Starbucks payment app.