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Bakkt
Publicly traded digital asset manager From Wikipedia, the free encyclopedia
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Bakkt Holdings, Inc., headquartered in Alpharetta, Georgia and New York City, provides a software as a service (SaaS) and API platform for owning and trading cryptocurrency and redeeming loyalty points.[1] Bakkt was founded, and is 55% owned, by Intercontinental Exchange (ICE), which also owns the New York Stock Exchange.[3][4] Bakkt earns revenue from commissions for payments and purchases and sales of cryptocurrency.[5]
 | This article may be confusing or unclear to readers. In particular, the bulk of the article was written at time of its founding and not updated to include significant events since 2023 and describe its current operations. (June 2025) |
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2018–2020: Under ICE ownership
In August 2018, Intercontinental Exchange announced it was forming a new company Bakkt,[6] which was intended to leverage Microsoft online servers to manage digital assets. Bakkt was said to be working with Boston Consulting Group (BCG), Microsoft, Starbucks, and others to create a software platform. The Bakkt ecosystem is expected to include federally regulated markets and warehousing along with merchant and consumer applications. Its first use cases was for trading and conversion of Bitcoin (BTC) versus fiat currencies. Kelly Loeffler served as Bakkt's CEO until her appointment to the United States Senate.[7]
As an initial component of the Bakkt offering, Intercontinental Exchange's U.S.-based futures exchange and clearinghouse plan to launch a one-day physically delivered BTC contract along with physical warehousing in 2019, subject to CFTC review and approval, which was delayed.[8] These regulated venues will establish new protocols for managing the specific security and settlement requirements of digital currencies. In addition, the clearinghouse plans to create a separate guarantee fund that will be funded by Bakkt.
In January 2019, Bakkt acquired certain assets of Rosenthal Collins Group to advance its consumer payments initiatives.[9]
In April 2019, Bakkt acquired Digital Asset Custody Company (DACC).[10]
In September 2019, Intercontinental Exchange began trading of bitcoin futures.[11]
In February 2020, Intercontinental Exchange acquired Bridge2 Solutions, a loyalty rewards provider, which was then contributed to Bakkt.[12]
2021–present: Publicly listed company
In October 2021, Bakkt completed a merger with VPC Impact Acquisition Holdings, a special-purpose acquisition company sponsored by Victory Park Capital and was listed on the New York Stock Exchange.[13][14]
In April 2023, Bakkt acquired Chicago-based integrated crypto trading platform, Apex Crypto.[15]
In March 2025, Akshay Naheta was appointed as the co-chief executive officer and board member of Bakkt Holdings, Inc..[16]
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