Bakkt to Acquire Stablecoin Infrastructure Provider DTR | Crypto Work Pro
Bakkt Holdings, backed by Intercontinental Exchange, has
agreed to purchase Distributed Technologies Research, a stablecoin funds
infrastructure supplier. The deal marks a shift in strategy following earlier
studies that Bakkt
had explored a potential sale or breakup in 2024.
Bakkt Agrees Stock-Based Acquisition of DTR
Under the settlement, Bakkt will situation Class A common stock
equal to 31.5% of the “Bakkt Share Number,” at the moment estimated at roughly 9.13
million shares, to DTR shareholders, together with DTR CEO Akshay Naheta. The ultimate
quantity of shares will likely be decided in accordance with the Cooperation
Agreement and will change prior to closing.
The acquisition is predicted to speed up Bakkt’s
time-to-market for stablecoin settlement, cut back third-party dependency, and
assist income throughout funds and banking use instances. The transaction requires
customary regulatory approvals and Bakkt shareholder consent. Intercontinental
Exchange, which owns roughly 31% of Bakkt’s Class A shares, has agreed to
vote in favour.
Bakkt Announces Rebrand
Bakkt additionally introduced that it’s going to change its company identify
to Bakkt, Inc., efficient January 22, 2026, whereas persevering with to commerce below the
ticker BKKT. The company plans an Investor Day on March 17, 2026.
Colleen Brown, member of Bakkt’s particular committee, mentioned the
acquisition “broadens the scope of what our platform can ship throughout digital
belongings and settlement.”
JUST IN: Bakkt acquires Distributed Technologies Research Ltd. (DTR) to supercharge its stablecoin settlement and programmable funds platform, speed up go-to-market, and broaden its function in world digital finance because it rebrands to Bakkt, Inc. in 2026. pic.twitter.com/DRrbysQ8SK
— Cryptopolitan (@CPOfficialtx) January 12, 2026
Bakkt Financials Show Improved Liquidity Position
Earlier, Bakkt reported income
of $214.5 million for the fourth quarter of 2023, bringing full-year
income to $780.1 million. The company mentioned the outcomes supported its liquidity
place and decreased near-term operational issues.
Revenue comprised gross crypto income and internet loyalty
income, with crypto-related income growing following the acquisition of
Bakkt Crypto, previously Apex Crypto. Despite the income growth, Bakkt recorded
an adjusted EBITDA loss of $93.9 million for the yr.
Net loss narrowed to $225.8 million in contrast with the prior
yr. Founded in 2018, Bakkt grew to become a public company in 2021 by way of a reverse
merger and has since centered on crypto trading, custody, and infrastructure
companies.
This article was written by Tareq Sikder at www.financemagnates.com.
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