Bakkt and Choice Hotels to Unlock Possibilities for Rewards Members

Choice Privileges^® members can now convert rewards points for cash to use for bitcoin and alternative payment methods

ALPHARETTA, Ga.–(BUSINESS WIRE)–Bakkt Marketplace, LLC (“Bakkt”), a trusted digital asset marketplace that enables institutions and consumers to buy, sell, store and spend digital assets, today 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.

To download the Bakkt App, visit the App Store and Google Play Store.

*This offer is subject to acceptance of the Bakkt^® App’s Terms of Use. Limit one offer per member. Offer limited to the first 500,000 members. One member may only create one Bakkt^® account. Offer valid from September 10, 2021 through November 5, 2021. Offer may be withdrawn or amended at any time. To participate in the offer, members must use the Bakkt^® registration link to create an account. Choice Privileges^® points will be credited to member’s Choice Privileges^® account within 4-6 weeks. Bakkt^® employees excluded. Choice Privileges^® points are redeemable for cash through the Bakkt^® App in increments of $25. Members may redeem up to $100 of points per month.

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.

About Bakkt

Bakkt is a trusted digital asset marketplace that enables consumers to buy, sell, store and spend digital assets. Bakkt’s retail platform, now available through the recently-released Bakkt App, amplifies consumer spending, reduces payment costs, and bolsters loyalty programs, adding value for all key stakeholders within the Bakkt payments and digital assets ecosystem. Launched in 2018 by Intercontinental Exchange, Inc., Bakkt is headquartered in Alpharetta, GA. For more information, visit: https://www.bakkt.com/

About Choice Hotels^®

Choice Hotels International, Inc. is one of the largest lodging franchisors in the world. With more than 7,100 hotels, representing nearly 600,000 rooms, in nearly 40 countries and territories as of June 30, 2021, the Choice^® family of hotel brands provides business and leisure travelers with a range of high-quality lodging options from limited service to full-service hotels in the upscale, midscale, extended-stay and economy segments. The award-winning Choice Privileges^® loyalty program offers members benefits ranging from everyday rewards to exceptional experiences. For more information, visit www.choicehotels.com.

Contacts

Bakkt Media Contacts
Lauren Post, VP – Communications

Lauren.Post@bakkt.com