As per the latest reports, Bakkt has made an announcement that has stormed the entire cryptocurrency community. Bakkt, a subsidiary of the International Exchange has made an announcement in regards to the launch of a debit card.
The company has announced that it has recently introduced/launched a debit card for its users. With the help of the debit card, the users would be able to purchase goods/stuff at retail stores as well as online retail shops.
The announcement in regards to the launch of the debit card was made by Bakkt on Tuesday, June 22, 2021. The firm has revealed that the debit card it has launched is fully virtual and belongs to the Visa debit card family. The users will be able to use these Visa debit cards for in-store and online spending.
Using the new Visa Debit card, the users will be able to pay directly through the Bitcoin (BTC) stored in their Bakkt accounts. The best thing about the cards is that the users would not have to wait for the cryptocurrency to be converted into fiat.
Gavin Michael, the CEO at Bakkt has stated that Bakkt has added a lot of significance to the Bitcoin (BTC) that the customers held at the company. Now they no longer have to wait for their cryptocurrency to be converted to fiat before they can proceed with using it.
This way, the users would no longer have to wait for the money to be transferred to their bank accounts before they can withdraw it, and then use it.
Now the users would be able to walk to any store that accepts Visa debit cards, make the purchase, and pay with their BTC. This way, the users would be able to get past the unnecessary fees they once had to pay in order to withdraw money from Bakkt and then from ATM.
The new Visa Debit cards introduced by Bakkt would give Bitcoin (BTC) users the freedom of using digital assets anywhere they want. In the past, Bitcoin (BTC) users were limited to online utilities, and they had to go through all the trouble of finding a platform that would accept it.
Now, they can simply walk into any store, make the purchases, and then pay with their Bakkt Visa debit cards. This way, the Bitcoin (BTC) users would be able to live a day-to-day life just like the rest of the people with traditional currency on their hands.
Bakkt has confirmed that it has collaborated with Sutton bank for the issuance of the Visa cards. The particular bank is the Federal Deposit Insurance Corporation’s member. It will be issuing Visa cards in accordance with the rules and regulations for Visa card handling.