Bakkt Marketplace, LLC (“Bakkt”), a digital asset marketplace that enables institutions and consumers to buy, sell, store and spend digital assets, announced the launch of the previously announced collaboration with Choice Hotels International, Inc. to expand the utility of the company’s rewards program, Choice Privileges, through the Bakkt App. Choice Privileges members can now convert their reward points to cash and then use that cash to buy bitcoin, send to a friend for their share of dinner, or even use it online or in-store anywhere Apple Pay® or Google Pay™ is accepted.
“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,” said Bakkt Chief Revenue Officer Sheela Zemlin. “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.”
Choice Privileges members can now convert their unused rewards points to cash on the Bakkt app and then convert that cash to bitcoin, transfer to friends with the “Send” feature, or use it to purchase everyday goods and services online or in-store wherever Apple Pay or Google Pay are accepted. Named a top hotel loyalty program by both USA Today's 10 Best Readers' Choice Awards and U.S. News & World Report, Choice Privileges members can earn points at more than 7,100 Choice hotels in over 40 countries.
From September 10 to November 5, 2021, Choice Privileges members will have the opportunity to earn additional reward points through Bakkt. Members can earn 500 additional points by linking a Choice Privileges account with the Bakkt App, as well as a 1,000-point bonus the first time points are redeemed for cash through the Bakkt App*.
“We’re thrilled to work with Bakkt and grow our Choice Privileges loyalty program to drive further value for our guests and franchisees,” said Jamie Russo, vice president, loyalty programs and customer engagement, Choice Hotels. “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.”
As the marketplace for digital assets continues to grow and evolve, Bakkt is empowering and strengthening its growing network to tap into the new opportunities for customer engagement. Bakkt aims to help merchants facilitate new customer experiences by leveraging emerging digital solutions that deliver a frictionless customer journey while also providing more options and flexibility.
Bakkt Marketplace, LLC is licensed to engage in virtual currency business activity by the New York State Department of Financial Services, and as a money transmitter in all states where required. See the full list of licenses here.