With one of the worst years for crypto industry coming to an end, investors and crypto users are looking for improvements and better platforms to help industry revive in 2019 and beyond. Bakkt is one of the most anticipated good news for the crypto industry.
Bakkt is a new cryptocurrency platform that will be launched at the start of 2019. It is a simple-to-use and open platform that allows both institutions and individual investors to sell, buy, save, and spend cryptocurrencies.
However, aren’t there already so many similar platforms out there? So what is different about Bakkt and why the expectations are so high?
Well, to begin with, Bakkt has gained attention due to its affiliations with some of the big names in the tech and crypto industry that include Microsoft, BCG, International Exchange (ICE) and Starbucks.
Second, it offers a wide range of services that include warehousing other than basic crypto trading. In addition, it will allow cryptocurrency to FIAT conversions, with an estimated trading business of $270 billion a year. Starbucks will serve as one of their test projects where people can convert digital assets into US dollars and buy stuff at Starbucks.
According to the company CEO, Kelly Loeffler, Bakkt is a scalable on-ramp platform that serves the needs of all end users, be it merchants, consumers, or institutions. The platforms also offer better utility, security, and efficiency.
As Bakkt is bringing in some of the largest influential businesses in the world and the US, it can lure and influence other large institutions to become a part of the crypto industry. The parent company ICE is also a big name in the financial sector having strong connections in the corporate world.
ICE operates more than 20 regulated exchanges at New York Stock Exchange and operates six payment houses, offering trading services to millions of users. It is also rated as one of the most successful investment and trading companies in the world, as they top the list of firms that raised most capital for their clients.
This makes Bakkt an exciting new crypto trading platform, with experience and success of ICE behind it, and partners like Microsoft and Starbucks. In addition, the platform is also focusing more on institutional investment, that can help bring in more capital into the crypto industry from large institutional investors.
Overall, Bakkt is a platform all set to lure in more investors into the crypto industry in 2019. If successful, the platform can help stabilize the industry with a capital influx.