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Bakkt expands crypto offerings to start supporting Ethereum

Ethereum
Ethereum

Bakkt, the cryptocurrency exchange platform for the Intercontinental Exchange, has announced plans of expansion by adding Ethereum to its list of accepted cryptocurrencies. Bakkt has stated that through this expansion, its customers can now interact with the largest altcoin by market capitalization.

The development also came shortly after Bakkt Holdings became a publicly-traded company, with its shares making major gains following developments across the ecosystem.

Increasing the portfolio of supported digital assets

An announcement on November 5 noted that Bakkt Holdings was looking into expanding its portfolio of supported digital assets. The latest addition to this offering is Ethereum, the second-largest cryptocurrency by market capitalization.

Bakkt will now allow its clients to buy, sell, hold and spend Ether, the native token of the Ethereum blockchain. Through the Bakkt app, users will also send ETH to their friends and family.

Commenting on this development, the CEO of Bakkt, Gavin Michael, stated that, “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. 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.”

Bakkt Holdings making bold moves

The announcement of Ethereum being added into the portfolio of Bakkt Holdings comes a few weeks after the company was publicly listed. The company went public through a listing at the New York Stock Exchange (NYSE).

As mentioned earlier, the shares of Bakkt Holdings have been making major gains following developments in its ecosystem. One of the most impressive news and partnerships that the platform has recently enjoyed is Mastercard and Fiserv.

Mastercard and Fiserv announced that they would be working with Bakkt to make digital assets available on loyalty programs. The partnership between the two firms and Bakkt is aimed to have a major breakthrough in bringing digital assets into the mainstream sector. In just five days following this partnership, the shares of Bakkt rose by 200%.

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