The BTC company Bakkt ends the first day of trading with a 6.4% discount

BTC company Bakkt just finished its first day of trading down 6.4% and the stock opened at $ 9.41, so read more about it on our latest bitcoin news.

Bakkt is a digital asset company that switched from a BTC custodian to a wallet and completed its first public trade on the New York Stock Exchange with a share price of $ 8.76.

BKKT stock opened at $ 9.41 and then closed at 6.4%. With the launch of BKKT today, BTC company Bakkt has become one of the few crypto companies to trade on the New York Stock Exchange. Nasdaq is also targeting tech companies, with more to come, including BTC miners Argo Blockchain and Riot Blockchain, as well as Coinbase. The platform was launched in 2018 by NYSE’s own Intercontinental Exchange. It was originally a Bitcoin custodian and was added to the ICE vertical only for custodians to hold BTC keys and other assets on behalf of customers. Anchorage, Coinbase, Copper, Custody, and others are popular options for institutional clients looking to outsource security matters.

However, Bakkt is perhaps best known for a heavily advertised pilot with Starbucks who promises to allow the cafe patrons to top up their cards with BTC.

It’s a high-energy consumer app launched in March that aims to be the premier wallet offering cash, loyalty points, crypto and gift cards. Using the app, people can buy and send BTC, but also convert gift cards into cash. Bakkt finalized its IPO plans last month after completing its merger with VPC Impact Acquisition Holdings, and this stalling in its initial launch could still make it off to a better start compared to Coinbase. After the exchange began public trading on April 14, the value of COIN fell from $ 381 to $ 382. Stocks on US exchanges priced below $ 300 despite the bullish BTC market.

As recently reported, Google is partnering with Bakkt, the digital asset marketplace, to expand the usability of cryptocurrencies. This comes after Bakkt launched its Visa debit card earlier this year, and customers can now transact digital assets anywhere that Google Pay is accepted.

This process converts the cryptocurrency to fiat before it reaches the recipient’s account and in this way the digital asset can be used to pay for everyday products both online and in-store.

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