Cryptocurrency platform Bakkt (NYSE:BKKT) shares briefly jumped as much as 10% Tuesday morning after it enabled Wyndham Hotel's (NYSE:WH) Rewards Members to use their points to pay anywhere Apple Pay and Google Pay are accepted, according to a blog post.
It didn't take long before BKKT stock erased most of its earlier gains, now changing hands just above breakeven levels.
The move further accelerates Bakkt's (BKKT) broader efforts to make digital assets more accessible.
Note that "the longer rewards sit in the customer’s account, the more they are subject to expiration, changing values, changing terms or abandonment," which "can lead to a less rewarding outcome for the customer," Bakkt explained.