Bakkt a financial management app for digital currencies, has collected $300m in a capital injection as it positions itself for a summer launch for its mobile app.
Contributions to the round came from firms including Intercontinental Exchange, Microsoft M12, PayU, Boston Consulting Group, Goldfinch Partners, CMT Digital and Pantera Capital.
Bakkt, which launched in 2018, is a digital currency management platform which gives consumers more control over their virtual assets whether its airline miles, loyalty points of cryptocurrency. Last year, the FinTech released an end-to-end regulated market for bitcoin and an institutional bitcoin custody service.
Its new mobile app will enable a consumer to collate all oftheir assets into a single wallet. Users can then use them to shop at certain merchant providers, send them to family and friends, or convert them into cash.
In a blog post announcing the funding round, the company said, ?Im excited at our potential to unlock nearly $1 trillion of digital assets when the Bakkt app launches this summer.
?We have the unique opportunity to leverage the technology, infrastructure and partners across our businesses to bring innovative new products to market and in doing so expand access to the global economy.p>
The FinTech company collected $182.5m in funding last year from investors including Boston Consulting Group, Goldfinch Partners, Horizons Ventures, Pantera Capital and Protocol Ventures.
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