The Intercontinental Trade, or ICE, proprietor of the New York Inventory Trade, introduced plans to accumulate software program service Bridge2 in
The Intercontinental Trade, or ICE, proprietor of the New York Inventory Trade, introduced plans to accumulate software program service Bridge2 in preparation for an app launch from ICE’s subsidiary, Bakkt.
Bakkt’s app will host a bevy of belongings, corresponding to loyalty rewards from numerous companies, in addition to crypto belongings, though the app is not going to be blockchain-based, a consultant from Bakkt advised Cointelegraph in a Feb. 5 e-mail. The consultant clarified that belongings corresponding to loyalty factors and coupons is not going to be transferable off the platform.
“Whereas all belongings within the Bakkt app shall be transferable to different Bakkt customers inside the app, these belongings is not going to be tokenized on a blockchain or transferrable outdoors the Bakkt ecosystem,” he mentioned.
ICE intends to accumulate Bridge2 Options, a software program as a service, or SaaS, platform, the alternate introduced on Feb. 5, in line with a press launch supplied to Cointelegraph. After the acquisition, Bakkt goals to acquire Bridge2 from ICE, Bakkt’s guardian firm, harnessing the SaaS platform for its upcoming client utility.
Bakkt plans to spend capital raised from its present Collection B increase to purchase Bridge2 from ICE, the press launch detailed, including that Bakkt’s financing spherical possible will finish within the subsequent couple of months.
Rising Bakkt
After a lot anticipation, ICE launched its regulated Bakkt digital asset buying and selling platform in September 2019, touting physically-settled Bitcoin futures buying and selling. Only a few months later, Bakkt opened Bitcoin choices buying and selling on its platform.
Persevering with its growth, Bakkt at present engages within the growth of a client app that hosts an array of choices, together with digital asset funds and buying and selling, the press launch mentioned. Bakkt plans so as to add a buyer loyalty element to the app by means of its Bridge2 acquisition.
Coming collectively
Bridge2, as a software program supplier, helps create digital loyalty packages for companies, corresponding to digital coupons, worker incentives and buyer loyalty factors. Bridge2 “powers packages for seven of the highest ten monetary establishments and 4,500 loyalty, incentive and worker perk packages for firms throughout a large spectrum of industries,” the press launch famous.
Incorporating Bridge2’s experience, Bakkt plans for its client app to have a broad spectrum of use circumstances.
Bakkt CEO, Mike Blandina, mentioned within the press launch:
“With the launch of the Bakkt app, we’ll, for the primary time, supply shoppers a strong platform to consolidate and use all of their digital belongings, from crypto to loyalty factors to in recreation tokens, in a single user-friendly pockets.”
In line with particulars shared with Fortune, Bakkt goals for top utility in its new app. App customers can reportedly use buyer rewards, coupons, loyalty factors from numerous firms as money, consolidated in a single sum in Bakkt’s app.
Including firms
In one other effort of growth, ICE additionally contacted eBay, providing over $30 billion for the e-commerce powerhouse, in line with a Feb. 4 brief from the Wall Avenue Journal. ICE and eBay are usually not formally negotiating presently.