Bakkt is planning to add Ethereum to its cryptocurrency offering.
On November 5, 2021, Bakkt Holding, Inc. announced that the trusted digital asset platform will soon list the second-largest cryptocurrency by market cap, Ethereum (ETH), to let their users and partners buy, sell, trade, and hold Ethereum.
l Bakkt Holdings, which is owned and run by the Intercontinental Exchange, is one of the major authorized cryptocurrency platforms that offers Bitcoin services to its customers.
l As the company stated on November 5th, its collection of accessible cryptocurrencies would shortly double.
l The firm went public on the New York Stock Exchange barely a few weeks ago, and this addition arrives only a few weeks later.
l Bakkt followed up with more spectacular developments and collaborations soon after, teaming with MasterCard and Fiserv to boost bitcoin acceptance, causing its stock prices to skyrocket.
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Bakkt’s integration of Ethereum happened at a time when cryptocurrencies are gaining popularity and usage. Countless non-adopters indicated an interest in converting to the asset category before the end of the year.
In an announcement, the exchange stated that “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.”
The Bakkt platform also lets users to transfer Ethereum to family and friends. Bakkt will now be able to provide customers access to two cryptocurrencies, covering well over half of the entire market value among all cryptocurrencies, with the integration of Ethereum to its current capabilities with Bitcoin.
Bakkt CEO stated, “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 also added, “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.”
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Ethereum has increased in popularity since last year and now holds the second position only to bitcoin in terms of market capitalization. Bakkt supports the process of digital commerce by offering consumers more chances to use their cryptocurrencies, such as Ethereum, for buying, trading, spending, and sending, in keeping with the company’s aim of linking the digital infrastructure.