Bakkt to acquire stablecoin payments company DTR, stock rises 10%

Digital asset infrastructure company Bakkt is acquiring stablecoin payments provider Distributed Technologies Research Ltd. (DTR) via an all-stock transaction, which caused Bakkt's stock to rise by about 10%. The acquisition, pending shareholder and regulatory approval, aims to strengthen Bakkt’s global stablecoin settlement and programmable payments platform, supporting its evolution into a unified financial infrastructure platform backed by Intercontinental Exchange. CEO Akshay Naheta stated that integrating DTR merges Bakkt’s regulatory foundation with DTR’s technology to create efficiencies for merchants and institutions. Board member Mike Alfred noted the move consolidates critical stablecoin settlement infrastructure, preparing Bakkt to launch its neobanking strategy. Bakkt also plans to change its corporate name to ‘Bakkt, Inc.’ and will continue trading as ‘BKKT’ on the NYSE.

(Source：Crypto Briefing)