Today in the connected economy, Peloton turns to Amazon to sell its home exercise equipment, marking the first time the company has worked with an outside retailer. Plus, Malaysian investment bank Kenanga looks to launch a super app with the help of Ant Group, while Sullivan Bank partners with Bakkt to let customers trade cryptocurrency.
Peloton has struck a deal with Amazon to sell its fitness products on the eCommerce giant’s platform in the face of declining sales. The move is the latest attempt by the troubled exercise bike maker to strengthen sales as people begin returning to the gym and marks the first time Peloton has teamed up with an outside retailer.
Malaysian investment bank Kenanga is working with China’s Ant Group to create what it called Malasysia’s first wealth super app. The app will combine solutions such as stock trading, digital investment management, eWallet, cryptocurrency trading and foreign currency exchange into one platform and ecosystem.
Cryptocurrency platform Bakkt Holdings is working with Sullivan Bank to let the bank’s customers buy, sell and hold bitcoin and Ethereum via Bakkt’s Crypto Connect offering. Sullivan Bank Chief Operating Officer Mallory Farrell said Bakkt will marry cryptocurrency capabilities with the bank’s existing banking platform, which lets customers view their crypto balance, plus checking and savings balances, in one place.
Cannabis industry payments firm Aeropay has launched a partnership with Dispense, maker of cannabis eCommerce and dispensary management software. Combining Aeropay’s platform with Dispense’s software tackles an evergreen problem for cannabis dispensaries doing business in states that have legalized marijuana, as federal laws bar them from processing traditional card payments.