The crypto asset custodial and trading platform Bakkt will be listed on the New York Stock Exchange under the ticker BKKT from Oct 18, 2021. The company is owned by International Exchange Incorporated, which owns the NYSE. Bakkt Holdings has a current valuation of over $2 billion. Coinbase, a competitor to Bakkt, was also listed on the NASDAQ in its IPO in April of this year.
Bakkt Holdings announced in January that it was making plans to go public.
Bakkt Holdings first announced in January that it was making plans to go public and is now ready to turn those plans into reality after merging with VPC Impact Acquisition Holdings and securing a partnership with Google. The merger saw the firm become Bakkt Holdings. The company gives users a platform to purchase, sell, and store digital assets. It also provides a bitcoin futures trading service to approved investors and a mobile payment app, enabling payments at merchants for everyday items.
The company will be using Google Cloud to build a new analytics engine.
Bakkt’s recent merger with VPC Impact Acquisition Holdings will see $448M going into its coffers, which will be used for developmental investments and partnerships. According to the firm’s CEO, Gavin Michael, its initial focus will be on securing partnerships and expanding the digital assets that it offers. The Google partnership will allow Bakkt’s Visa debit card users to pay with bitcoin at merchants that accept Google Pay. It will also be using Google Cloud to build a new analytics engine that will make use of artificial intelligence, machine learning, and geolocation.