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"Phase Two" of the Bakkt platform under development with Starbucks and Microsoft

Bakkt could be on track to start developing the "phase two" of his roadmap. Bakkt is the platform owned by the Intercontinental Exchange (ICE) and was designed for institutional investors. Phase two of the operations include the participation of Starbucks and Microsoft. The information was released by The Block a few days ago.

Bakkt is developing its platform

According to some reports, Bakkt is working on its investment platform for institutional investors. A few days ago, Kelly Loeffler, CEO of Bakkt, said in a Medium article that they were delaying the launch of the platform for January 2019. The previous date was December 2018.

"Given the volume of interest in Bakkt and the work required to get all the pieces in place, we will now focus on January 24, 2019, for our launch, to ensure that our participants are ready to trade the first day", written Loeffler.

When the platform was announced, ICE informed that they were working with other brands such as Microsoft and Starbucks. The second phase could use Microsoft's cloud solutions to allow people to buy and sell virtual currencies. It will also be possible to store and spend virtual currencies on a global network.

Starbucks will also play an important role in Bakkt's plan to bring new customers to the virtual currency market. In the future, Starbucks customers could convert cryptocurrencies into US dollars and make purchases with them.

In August, Starbucks' vice president of partnerships and payments commented:

"As a leading retailer, Starbucks will play a key role in developing practical, reliable and regulated applications to enable consumers to convert their digital assets into US dollars for use at Starbucks."

Several new customers, mostly millennial, will be able to use Bitcoin and other virtual currencies for daily purchases.

There are other companies working to launch platforms for institutional investors. Fidelity Investments and Goldman Sachs are planning to launch specific products for richer and more traditional investors.

The virtual currency market recorded a downward trend from the start of the year. Because Bitcoin has dropped below $ 4,000 dollars, these ads create positive expectations for the community.

Carlos is an international relations analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other major cryptocurrency sites; with over 2,000 published articles.

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