Bakkt to Acquire Distributed Technologies Research in All-Stock Deal
- Bakkt, a digital asset infrastructure company, plans to acquire Distributed Technologies Research Ltd. (DTR) through an all-stock transaction.
- The acquisition will involve issuing shares of Class A common stock to DTR shareholders.
- This move aims to enhance Bakkt’s global stablecoin settlement and programmable payments platform.
- Backed by Intercontinental Exchange, Bakkt’s largest shareholder, the acquisition supports the company’s expansion in payments and banking sectors.
- Bakkt CEO Akshay Naheta stated that integrating DTR finalizes a strategy for building a unified financial infrastructure platform.
The acquisition of Distributed Technologies Research by Bakkt is set to strengthen its stablecoin settlement capabilities and expand its financial infrastructure offerings. This strategic move aligns with Bakkt’s aim to evolve into a comprehensive financial services platform.
Source (3.2)https://cryptobriefing.com/bakkt-acquires-stablecoin-company-dtr/?rand=59535
