Bakkt Holdings announced this Monday the acquisition of Distributed Technologies Research to improve stablecoin settlement settlement. According to the official spokesperson Akshay Naheta, CEO of the firm, the operation marks vital strategic progress. This move seeks to strengthen the programmable payments infrastructure and the global settlement of assets.
The transaction will be executed through a consideration in Class A shares, representing a percentage of 31.5%. The issuance of approximately 9.1 million shares for the shareholders of DTR involved is estimated. Likewise, this agreement will allow the company to integrate key tools internally and efficiently. In this way, the dependence on external providers to process financial transactions is reduced nowadays.
On the other hand, the company seeks to accelerate its time to market with its own solutions. Mastery of DTR systems will open new revenue opportunities in the banking sector and commerce. Additionally, the team has worked for months on the integration of both operating platforms. Therefore, the acquisition represents the evolution toward a unified financial infrastructure platform and modern systems.
Corporate consolidation and the support of the main institutional shareholders of the market
An independent special committee reviewed and approved the terms of this important corporate operation. Intercontinental Exchange, which owns 31% of the shares, will vote in favor to guarantee the success of the purchase process. However, the definitive closing still depends on regulatory approvals and final consent. It is also expected that this support will strengthen the competitive position of the brand before its rivals.
On the other hand, the company will officially be renamed Bakkt, Inc. starting in January. This name change reflects its transition toward a global ecosystem of programmable money and dynamic tools. The listing under the ticker BKKT will continue without alterations on the New York Stock Exchange. Thus, the firm reaffirms its commitment to innovation in the use of technology and finance.
What impact will this acquisition have on Bakkt’s expansion into international markets?
It is worth noting that growth is not limited solely to the development of local software and applications. In August, the firm acquired a relevant stake in the Japanese company Marusho Hotta to expand. This entity will be renamed Bitcoin.jp to focus on treasury operations with digital assets. Likewise, the new focus will allow the organization to position itself as a leading investment vehicle in the region.
The future of the organization looks solid after the integration of these new technical resources. It is anticipated that stablecoin settlement settlement will be the fundamental pillar of institutional growth. In this way, the company seeks to simplify global payments through highly efficient digital rails. Finally, investors look forward to learning more strategic details on the next day for investors.
