Digital asset wallet, Bakkt, raises $300m Series B to finance a push into the retail market

Launched two years ago, Bakkt has so far majored on the institutional markets, creating a regulated futures and options market for crypto trading and an institutional custody offering. With bitcoin markets crashing in response to the Covid-19 outbreak, Bakkt remains intent on a Summer launch for its one-size-fits-all mobile app, that will enable users to consolidate all of their digital assets -from crypto to loyalty points to in-game tokens - in a single virtual wallet. Bakkt chief Mike Blandina, states: "Digital assets include things as diverse as loyalty and rewards points, in-game assets, merchant stored value, and cryptocurrencies, and collectively represent nearly $1 trillion in consumer spending power. Despite the size of this market, consumers still find digital assets to be difficult to access, confusing to keep track of, and challenging to use."

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