Bakkt Marketplace LLC, a digital asset marketplace that enables consumers and institutions to buy, sell or store digital assets, has announced the launch of their collaboration with Choice Hotels International, Inc. The collaboration would focus on expanding the utility of Choice Hotel’s rewards program.
Convert Reward Points To Cash
Using the Bakkt app, Choice Privileges members can now convert their reward points into cash and then use their newly acquired cash to buy Bitcoin, send to friends and associates, or use it online in online stores that accept payment methods such as Apple Pay and Google Pay.
Sheela Zemlin, The Chief Revenue Officer at Bakkt, commented on the partnership, stating,
“By working with Choice Hotels, Bakkt is bringing tremendous value to its millions of customers by unlocking new redemption opportunities for Choice Privileges members to enjoy their rewards points in day-to-day life or even to purchase bitcoin. As we continue to build a digital asset ecosystem with leading brands, Choice Hotels was a natural fit to further drive value for both of our customers.”
New Utility For Unused Reward Points
The collaboration between Bakkt Marketplace LLC and Choice Hotels International Inc enables Choice Privilege members to convert their unutilized reward points into cash. They can then convert their cash into Bitcoin, or transfer it to friends and family, or just use the funds to purchase goods or services, in-store or online, as long as Google Pay or Apple Pay are accepted.
Earn Additional Reward Points
Between the 10th of September and the 5th of November, Choice Privilege members can earn additional reward points through the Bakkt application. Choice Privilege members can potentially earn 500 extra points by linking their Choice Privileges account with the Bakkt app. They can also earn a 1000 point bonus when they redeem their reward points for cash for the first time.
Vice president for loyalty programs and customer engagement for Choice Hotels, Jamie Russo, commented,
“We’re thrilled to work with Bakkt and grow our Choice Privileges loyalty program to drive further value for our guests and franchisees. As a company with a strong emphasis on a customer-first approach, Choice is always looking for ways to better serve the changing needs of today’s consumers.”
A Trusted Digital Asset Marketplace
With the growth of digital assets and the marketplace for them, Bakkt is strengthening its growing network and enabling it to tap into new and diverse opportunities for consumer engagement. Bakkt facilitates merchants to offer new and better customer engagement through the leveraging of emerging digital solutions that provide a seamless customer experience while also providing more options and flexibility.
The Bakkt platform is accessible through the recently launched Bakkt app and helps customers by reducing payment costs, amplifying consumer spending, and boosting loyalty programs, thereby adding value for stakeholders in the Bakkt ecosystem.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.