The major crypto custody and futures trading service provider Bakkt has reportedly its upcoming plan for expansion into the mobile payment sector, through a planned introduction of a new consumer app. 

As stated via the firm’s official blog on October 28, Bakkt will be rolling out the next project, following the positive feedbacks from its previous Bitcoin (BTC) futures trading activities. The app is expected to “unlock the value of digital assets, as well as ways in which they can transact or track them” for consumers. 

Bakkt has yet to disclose further details regarding how the app will actually work. Nonetheless, Giant coffee franchise Starbucks has become the first big name to decide to try out the new payment app. 

“As the flagship retailer, Starbucks will play a pivotal role in developing practical, trusted and regulated applications for consumers to convert their digital assets into US dollars for use at Starbucks.” Maria Smith, Starbucks’ vice president of partnerships and payments, remarked. 

Bakkt has revealed its primary target of accelerating the process of turning digital assets into locally useful payment systems.

“We’re working to reduce friction in the use of digital assets to reflect their aggregate value and to reflect an increase in purchasing power that was previously siloed.”

The mechanism employed to exchange digital assets at points-of-sale is still not specified.