Mastercard and Bakkt have decided to collab in letting merchants and banks build crypto into their offerings, changing the way consumers can collect loyalty rewards.
According to the statement, consumers are allowed to purchase, sell, or hold digital assets via custodial wallets that are offered by Bakkt. Customers are allowed to collect and spend loyalty rewards via crypto.
This means the gap between traditional credit card payments and crypto is one step closer to being eliminated. Bakkt is known for appealing to young customers.
Since brands and merchants want to get the attention of a younger demographic, such offerings are a new method of satisfying the need for crypto, payments, and rewards flexibility.