{"id":4351,"date":"2021-06-22T23:27:47","date_gmt":"2021-06-22T22:27:47","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=4351"},"modified":"2021-06-22T23:27:55","modified_gmt":"2021-06-22T22:27:55","slug":"bakkt-exchange-launches-its-crypto-debit-card","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bakkt-exchange-launches-its-crypto-debit-card\/","title":{"rendered":"Bakkt exchange launches its crypto debit card"},"content":{"rendered":"\n
The\u00a0Bakkt\u00a0Visa\u00a0debit\u00a0card,\u00a0which\u00a0is\u00a0praised\u00a0for\u00a0allowing\u00a0users\u00a0to\u00a0“exploit\u00a0digital<\/a>\u00a0assets\u00a0in\u00a0their\u00a0day-to-day\u00a0lives,”\u00a0is\u00a0now\u00a0accessible\u00a0for\u00a0online\u00a0and\u00a0in-store\u00a0purchases.<\/h5>\n\n\n\n
\"Bakkt<\/figure>\n\n\n\n

Bakkt, a subsidiary of the Intercontinental Exchange, has launched a debit card that allows clients to make retail purchases using cryptocurrency.<\/p>\n\n\n\n

Bakkt\u00a0announced\u00a0on\u00a0Tuesday\u00a0that\u00a0it\u00a0has\u00a0launched\u00a0a\u00a0totally\u00a0virtual\u00a0Visa\u00a0debit\u00a0card\u00a0that\u00a0could\u00a0be\u00a0used\u00a0both\u00a0online\u00a0and\u00a0in\u00a0stores.\u00a0Cardholders\u00a0can\u00a0spend\u00a0Bitcoin\u00a0(BTC)\u00a0directly\u00a0from\u00a0their\u00a0Bakkt\u00a0accounts\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>\u00a0without\u00a0having\u00a0to\u00a0wait\u00a0for\u00a0the\u00a0cryptocurrency\u00a0to\u00a0be\u00a0converted\u00a0to\u00a0fiat\u00a0currency.<\/p>\n\n\n\n

\u201cImagine a Bitcoin user who sees a significant gain,\u201d said Bakkt CEO Gavin Michael. \u201cNow, instead of selling and waiting to transfer to a bank, they can simply walk into their favorite store, tap their Bakkt Card and buy that new item they\u2019ve been eyeing [\u2026] the Bakkt Card untethers Bitcoin owners from their online-only past into a world with countless options to leverage the digital assets in their day-to-day lives.\u201d<\/p><\/blockquote>\n\n\n\n

The debit cards are being issued by Sutton Bank, a member of the Federal Deposit Insurance Corporation, in accordance with a Visa license.<\/p>\n\n\n\n

Bakkt avoids BTC transaction fees by selling crypto to users at a higher price than the current market rate, which the company claims has been “no more than 1.5 percent throughout 2021.”<\/p>\n\n\n\n

Bakkt said in March that it has built a digital asset payments application that would allow clients to make purchases using Bitcoin and other cryptocurrencies.<\/a><\/p>\n\n\n\n

The platform was marketed at the time as a way to “increase customer spending, lower payment costs, and strengthen merchant loyalty programs.”<\/p>\n\n\n\n

As the industry increases in popularity, many exchanges and digital asset marketplaces have released their own crypto debit cards this year.<\/p>\n\n\n\n

In February, BitPay<\/a> stated that it will offer a crypto Mastercard that would support six tokens, while Crypto.com's Visa card allows customers to fill their accounts with more than 100 cryptocurrencies.<\/p>\n","protected":false},"excerpt":{"rendered":"

The\u00a0Bakkt\u00a0Visa\u00a0debit\u00a0card,\u00a0which\u00a0is\u00a0praised\u00a0for\u00a0allowing\u00a0users\u00a0to\u00a0“exploit\u00a0digital\u00a0assets\u00a0in\u00a0their\u00a0day-to-day\u00a0lives,”\u00a0is\u00a0now\u00a0accessible\u00a0for\u00a0online\u00a0and\u00a0in-store\u00a0purchases. Bakkt, a subsidiary of the Intercontinental Exchange, has launched a debit card that allows clients to make retail purchases using cryptocurrency. Bakkt\u00a0announced\u00a0on\u00a0Tuesday\u00a0that\u00a0it\u00a0has\u00a0launched\u00a0a\u00a0totally\u00a0virtual\u00a0Visa\u00a0debit\u00a0card\u00a0that\u00a0could\u00a0be\u00a0used\u00a0both\u00a0online\u00a0and\u00a0in\u00a0stores.\u00a0Cardholders\u00a0can\u00a0spend\u00a0Bitcoin\u00a0(BTC)\u00a0directly\u00a0from\u00a0their\u00a0Bakkt\u00a0accounts \u00a0without\u00a0having\u00a0to\u00a0wait\u00a0for\u00a0the\u00a0cryptocurrency\u00a0to\u00a0be\u00a0converted\u00a0to\u00a0fiat\u00a0currency. \u201cImagine a Bitcoin user who sees a significant gain,\u201d said Bakkt CEO Gavin Michael. \u201cNow, instead of selling and waiting to transfer to a bank, they can simply walk into their favorite store, tap their Bakkt Card and buy that new item they\u2019ve been eyeing [\u2026] the Bakkt Card untethers Bitcoin […]<\/p>\n","protected":false},"author":12,"featured_media":4352,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,21],"tags":[733,132,734,735],"class_list":["post-4351","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrencies","category-news","tag-bakkt","tag-crypto","tag-debit-card","tag-exchange"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/06\/Bakkt-exchange-launches-its-crypto-debit-card.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/4351","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=4351"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/4351\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/4352"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=4351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=4351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=4351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}