Bakkt acquires stablecoin provider DTR as its shares rise by 10%

Source: Yellow Original Title: Bakkt acquires stablecoin provider DTR as its shares rise 10%

Original Link: The digital asset infrastructure company Bakkt Holdings is acquiring the stablecoin payment provider Distributed Technologies Research (DTR) in a fully stock-based transaction.

The deal, announced on Monday, caused Bakkt’s shares listed on the NYSE to rise approximately 10%.

According to the agreement, Bakkt will issue around 9.1 million Class A shares to DTR shareholders.

The transaction requires regulatory and shareholder approval to close.

Intercontinental Exchange (ICE), Bakkt’s largest shareholder with a 31% stake, has committed to voting in favor.

What happened

Bakkt will issue Class A shares representing 31.5% of its fully diluted share count to acquire DTR.

Akshay Naheta, who acts as both CEO of Bakkt and founder of DTR, will be among the shareholders receiving consideration in shares.

An independent special committee of Bakkt’s board negotiated and approved the deal to ensure proper governance given Naheta’s dual role.

The agreement directly consolidates DTR’s stablecoin settlement infrastructure into Bakkt’s platform.

Separately, Bakkt plans to change its corporate name to “Bakkt, Inc.” effective January 22. The company will continue trading under the ticker BKKT on the NYSE.

Bakkt also announced an Investor Day scheduled for March 17 to outline its growth plans.

Why it matters

The acquisition accelerates Bakkt’s evolution into a unified financial infrastructure platform that combines traditional finance compliance with blockchain programmability.

DTR’s technology is expected to reduce Bakkt’s reliance on external providers while enabling new revenue streams in payments and banking.

Board member Mike Alfred stated that the deal “positions the company to launch its neobank strategy with multiple distribution partners in the coming months.”

Bakkt had already outlined integration plans in May 2025, positioning its regulated infrastructure as a bridge between traditional and decentralized finance.

Founded in 2018, the company has expanded beyond its original Bitcoin futures platform into cryptocurrency payments, custody, and settlement services with stablecoins.