August 4, 2021

Bakkt Cryptocurrency Platform Launches Visa Debit Card

Bakkt Crypto Platform Unveils Debit Card To Allow Customers To Use Cryptocurrencies for shopping.

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The American company announced that it has launcheda fully virtual Visa debit card for both online purchases and offline purchases. Cardholders will be able to spend bitcoins from their Bakkt accounts without waiting for the crypto to fiat conversion.

“Imagine a Bitcoin user whosees he made good money, '' explained Bakkt CEO Gavin Michael. - Now, instead of selling [bitcoin] and waiting for a bank transfer, they can simply go to their favorite store and use their Bakkt card to buy the product they have been looking at <...> The Bakkt card sends bitcoin holders from online of the past into a world with countless opportunities that digital assets provide in everyday life. "

With the issuance of cards of the Visa payment system of the companyhelps Sutton Bank. Bakkt, in turn, does not fool itself with transaction fees by selling bitcoins to users at a price higher than the market price. The difference, however, is not large - it was “no more than 1.5% throughout 2021”.

In March, Bakkt announced the launch of an app that allows customers to use Bitcoin and other cryptocurrencies for purchases.

Due to the growing popularity of cryptocurrencies, manyexchanges and payment companies launched their own crypto debit cards this year. BitPay introduced a Mastercard cryptocard in February with support for six tokens in addition to Bitcoin - Ethereum, Bitcoin Cash, USD Coin (USDC), Gemini Dollar (GUSD), Paxos Standard (PAX) and Binance USD (BUSD). And the Visa card issued by Crypto.com allows users to fund their accounts with over 100 cryptocurrencies.

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