The institutional platform Bakkt announced support for the second-largest cryptocurrency by market capitalization.
We’re pleased to offer the ability to buy, sell, and hold ether (ETH), the cryptocurrency of the Ethereum network, starting soon. https://t.co/ml71eEeXoX #cryptocurrency #ethereum pic.twitter.com/tN4MThWFia
— Bakkt (@Bakkt) November 5, 2021
In addition to Bitcoin, partners can integrate with the Bakkt platform to enable their users to buy, sell and transfer Ethereum. Institutional clients can also opt for Bakkt Warehouse to store Ether,
The move came amid growing interest and adoption of cryptocurrencies. According to Bakkt’s survey, nearly half of respondents had invested in some cryptocurrency in the past year.
In March 2021, the platform launched a mobile app that allows users to store, buy and sell Bitcoin. The digital wallet is available on iOS and Android.
In June, Bakkt, in partnership with Sutton Bank launched a virtual Visa debit card. Later its holders gained the ability to spend Bitcoin via Google Pay.
In August, the company announced a pilot project that would allow the Quiznos accept payment in Bitcoin.
Earlier on October 17, Bakkt announced the completion of its merger with the SPAC VPC Impact Acquisition Holdings.
Following the first trading session on the New York Stock Exchange on October 18, the platform’s market value fell by 6.41%, to $8.78.
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