Benzinga | May 6, 2021 08:52AM EDT

Bakkt and Cantaloupe Announce Partnership to Accept Cryptocurrency and Participating Loyalty Points in Cantaloupe's Unattended Retail Network

Bakkt Holdings, LLC ("Bakkt"), the digital asset marketplace behind the Bakkt App, today announced a strategic partnership with Cantaloupe, Inc. (NASDAQ:CTLP), a digital payments and software services company that provides end-to-end technology solutions for the unattended retail market, to bring a new, cashless experience for consumers to spend digital assets at unattended retail devices. Through the partnership, in addition to cash, debit and credit card, or mobile wallet, consumers will soon have the choice and flexibility to pay for products with cryptocurrency and supported loyalty points across Cantaloupe's nationwide network.

With the global vending machine market size expected to garner $25 Billion by 2027, the ubiquity of cryptocurrency is a fundamental aspect to unlocking new customer experiences. The partnership will enable Cantaloupe to offer consumers the ability to pay using the digital assets within the Bakkt App, starting with bitcoin and participating loyalty points on more than a million devices.