Bakkt, a cryptocurrency marketplace, has opened trading on the New York Stock Exchange (NYSE) under the ticker symbol "BKKT." As of press time, the company's shares fell as much as 6.9% to $8.76. Bakkt's market capitalization is at $242.6 million.
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"Our platform sits at the intersection of cryptocurrency, rewards, loyalty and payments, and we look forward to accelerating the plan that is already underway: building out a broader partner network, expanding the access and utility of digital assets, and gaining momentum in a space that is continuing to grow," Bakkt CEO, Gavin Michael, said in a press release.
Bakkt's listing on NYSE comes shortly after the company enabled its customers to link virtual Bakkt Visa Debit Card with Google Pay to purchase everyday goods and services online. With Google Pay, cryptocurrencies like bitcoin (EXANTE: Bitcoin) will be converted to fiat currency for these payments to occurs. As part of the partnership, Bakkt also selected Google Cloud as its cloud provider.
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