Hey ninjas, how’s the trading going? On the day the majority of the top cryptocurrencies are reporting losses. The largest cryptocurrency Bitcoin is down 2.73% and is trading at $9,385 at press time. In other news, the central bank of Argentina has reportedly reduced the number of dollars that can be purchased by a saver from $10,000 to $200.
Bakkt futures trading platform and cryptocurrency custody announced that it will be releasing a new consumer app for mobile payments. The announcement was made in a blog post from the company on the 28th of October, according to the post the app will help its users “unlock the value of digital assets” as well as ways to track them.
Though the announcement does not contain details on the app functions, according to the post-Bakkt’s new consumer app aims to speed the rate at which cryptocurrencies are converted to fiat currencies and hence increase its purchasing power. Starbucks ' coffee empire is the first major retailer to partner with Bakkt’s new consumer application.
The vice president of partnership and payments at Starbucks, Maria Smith, stated that the company will play an important role in the development of the new application.