August 13, 2022

Bakkt has no plans to support XRP, says CEO

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Bakkt, one of the biggest cryptocurrency companies in the United States, will not support XRP as part of its further product development, according to the CEO.

On Jan. 11, Bakkt CEO Gavin Michael sat down with the Axios Re:Cap podcast to discuss the mainstream adoption of Bitcoin (BTC) and other digital assets. Michael said that Bakkt is planning to roll out support for a number of altcoins on its platform in the future, but XRP is not one of them.

Michael declined to comment on whether the company decided to stay away from XRP due to Ripple’s legal issues sparked by a lawsuit from the U.S. Securities and Exchange Commission. “Just not on our platform,” Michael stated, adding:

“We entered the crypto space through Bitcoin, and that was our first currency we’ve made available. We have others that are scheduled to come on board as part of the product development. But XRP is not available.”

Michael’s remarks on XRP follow the official announcement of Bakkt’s plans to go public. On Jan. 11, the Intercontinental Exchange, the operator of the New York Stock Exchange and the owner of Bakkt, announced a merger deal with VPC Impact Acquisition Holdings to allow Bakkt to launch on stock markets. 

Meanwhile, Ripple is fighting the SEC’s $1.3 billionTitle: Bakkt has no plans to support XRP, says CEO
Sourced From: cointelegraph.com/news/bakkt-has-no-plans-to-support-xrp-says-ceo
Published Date: Tue, 12 Jan 2021 10:01:24 +0000