Bakkt Reveals Potential Bitcoin and Crypto Partnerships, Ripple Plans to ‘Make a Dent in the Universe’ and VeChain Announces Blockchain Service
Bakkt CEO Kelly Loeffler says Starbucks isn’t the only retail company interested in partnering with the upcoming cryptocurrency exchange.
In a new interview, Loeffler says Bakkt is hearing from a number of big name companies who also want to partner and give their customers a way to make purchases by converting crypto to cash.
“Since that announcement we’ve heard from others that want to do that,” Loeffler told the Inside the ICE House podcast.
Meanwhile, Ripple’s managing director of South Asia, Middle East, and North Africa says Ripple is taking an all-or-nothing approach to revolutionizing the world of finance.
At the BlockOn conference in Bahrain, Navin Gupta explained why Ripple is laser focused on the the cross-border payments industry.
“Ripple is not an ordinary company. We are not here to make a small market share or do x, do y. Or make a small amount of money or something to happen. We are here to make a dent in the universe. Either we will change the remittance universe, the way you understand the way value gets transferred across the world between people, between institutions. Or we will just fade away. So, it’s almost zero and one. And some of it comes from our Silicon Valley arrogance… That’s the reason six years ago we were born with a mission of moving money, like information moves today, right? And we are making it possible, working with the existing ecosystem. So I think this is a key differentiator about Ripple…
Every day we get tens of ideas to say, ‘Why don’t you do securities settlement? Why don’t you work in trade finance? Why don’t you do x, y, z? And what we tell them is, ‘Just cross-border remittances is a $155 trillion problem. We’ll solve this first. We’ll make a difference to everybody who is present in this room. And once we have made the difference, only then we will look at something else.’
So we are like Google is for search, Ripple is for remittances. And that’s what we are going to do. We’re going to do it right, and we are not going to rest until we earn your respect and your business.”
Finally, VeChain is working with a leading cloud services provider in the United Arab Emirates.
According to a joint press release, VeChain and BIOS Middle East have signed a memorandum of understanding to create a Blockchain-as-a-Service framework and launch blockchain-enabled cloud services.
“VeChain’s wide range of blockchain solutions for enterprises comprising of the Internet of Things (IoT) are ripe for major cloud service providers like BIOS Middle East to provide a variety of Blockchain-as-a-Service (BaaS) offerings to existing clientele across energy, finance, retail, petrochem and healthcare industries in the Middle East.
BIOS Middle East and VeChain recognize that in order for a large-scale blockchain revolution to happen, companies will require help with designing, migrating and managing their blockchain solutions to realize its tremendous benefits.
BIOS Middle East is integrating its own Security-as-a-Service offering, known as BIOS Secured on the Vechain blockchain. This will allow for significant events to be encrypted and registered to the blockchain so that they are non-reputable, eliminating the possibility of bad actors changing logs.”
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