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Bakkt and Global Payments Announce Strategic Alliance
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Rhea-AI Summary
Bakkt Holdings, Inc. (NYSE: BKKT) and Global Payments (NYSE: GPN) have formed a strategic alliance to enhance digital asset utilization. This collaboration will enable cryptocurrency redemption in loyalty programs for bankcard clients and expand banking-as-a-service offerings. Additionally, Bakkt aims to partner with Global Payments for multinational merchant payment acceptance. This alliance is expected to amplify consumer spending and strengthen loyalty programs within the digital assets ecosystem.
Positive
Strategic alliance with Global Payments to enhance digital asset use in loyalty programs.
Expansion of banking-as-a-service offerings to include consumer access to cryptocurrency.
ALPHARETTA, Ga.--(BUSINESS WIRE)--
Bakkt Holdings, Inc. (NYSE: BKKT), a trusted digital asset platform that enables consumers to buy, sell, send and spend a range of digital assets, and Global Payments (NYSE: GPN), a leading payments technology company delivering innovative software and services to customers globally, today announced a strategic alliance. As part of the agreement, Global Payments and Bakkt will collaborate on use cases starting with enabling cryptocurrency redemption in customer loyalty programs offered by bankcard clients, expanding its banking-as-a-service offerings to include consumer access to cryptocurrency, and ultimately leveraging issuing technologies for linking virtual, debit, credit and prepaid solutions. In addition, Bakkt will broadly partner with Global Payments on multinational merchant payments acceptance.
About Bakkt:
Bakkt is a trusted digital asset platform that enables consumers to buy, sell, store, and spend digital assets. Bakkt’s platform, now available through the Bakkt App and to partners, amplifies consumer spending and bolsters loyalty programs, adding value for all key stakeholders within the Bakkt payments and digital assets ecosystem. Launched in 2018, Bakkt is headquartered in Alpharetta, GA. For more information, visit: https://www.bakkt.com/ | Twitter @Bakkt | LinkedIn https://www.linkedin.com/company/bakkt/
What is the new partnership between BKKT and GPN about?
Bakkt and Global Payments announced a strategic alliance to enable cryptocurrency redemption in loyalty programs and expand banking-as-a-service offerings.
How will the alliance between Bakkt and Global Payments impact digital assets?
The alliance aims to enhance consumer spending and strengthen loyalty programs by integrating cryptocurrency into existing payment solutions.
What are the expected benefits of the BKKT and GPN collaboration?
The collaboration is expected to broaden access to cryptocurrency and improve merchant payment acceptance on a global scale.
When was the partnership between Bakkt and Global Payments announced?
The partnership was announced recently, but the specific date was not provided in the press release.
