By Sam Boughedda
Investing.com — Fiserv Inc (NASDAQ:FISV), a payments and financial services technology firm, has announced a strategic relationship with Bakkt Holdings Inc (NYSE:BKKT), a digital asset platform, the companies announced Monday.
Much like Bakkt's partnership with Mastercard, announced earlier today, the relationship with Fiserv will allow consumers to buy, sell, send and spend a range of digital assets.
Shares of Fiserv rose 0.7% on Monday, while Bakkt shares are up 165%.
"The combination of expansive capabilities from Fiserv, including the ability to move funds into and out of mobile wallets, with Bakkt's digital asset platform will enable practical uses of crypto and emerging asset classes," the company said in a statement.
There are plans for the future integration of Bakkt into Fiserv's Carat omnichannel platform, which will allow businesses to try new options for B2B and B2C payouts, loyalty programs, and transactions with crypto assets accessible via a digital asset wallet.
Fiserv said merchants will also have the ability to deliver consumer experiences through an integration to Carat and roll out new digital asset offerings.
"Fiserv is in a unique position to connect merchants and financial institutions utilizing a unified digital asset platform, laying the foundation for an integrated digital asset ecosystem that can bring value and convenience to our clients and their customers," commented Sunil Sachdev, Head of Fintech at Fiserv.