Bakkt Holdings, Inc – a fintech firm that provides crypto solutions – announced on Monday a strategic alliance with Global Payments Inc – a US firm that offers payment technology and services to merchants, issuers and consumers – to expand use cases of cryptocurrencies.
The strategic partnership will see Global Payments enable crypto redemption to its customers. The collaboration will also enable Global Payments to expand its banking-as-a-service bankcard offerings to include customer access to cryptocurrencies and also leverage its issuing technologies to link crypto into its virtual, debit, credit and prepaid solutions. Furthermore, Bakkt will also collaborate with Global Payments on multinational merchant payments acceptance.
The latest development is part of efforts by Bakkt to continue expanding crypto adoption within the payment ecosystem.
Last month, Bakkt partnered with American Bank to enable the bank’s customers to purchase, sell, and hold Bitcoin and Ethereum. Recently, Bakkt also collaborated with Wyndham Hotel Wyndham Hotels & Resorts, Inc, a US hotel company based in New Jersey, to allow the hotel’s rewards members to use their points with Apple Pay and Google Pay.
Last October, Bakkt partnered with Google to introduce digital assets to millions of consumers. The collaboration enabled Google to extend the reach and use of digital assets to meet the rapidly growing consumer demand and preferences.
Towards late last year, Bakkt also partnered with MasterCard to allow thousands of banks and merchants onto its payments network in the US to provide a wide range of crypto solutions and services. In turn, consumers are able to spend the crypto rewards they earn at retailers on MasterCard’s network. They are also able to hold, buy, and sell digital assets through custodial wallets powered by Bakkt’s digital asset platform.
Such partnerships enable global consumers to benefit from the increased accessibility of digital asset services.
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