Bakkt has finalized its acquisition of Distributed Technologies Research (DTR), a stablecoin infrastructure firm, through an equity transaction. The deal involved Bakkt issuing over 11.3 million shares to DTR's beneficial holders, with the potential for an additional 725,000 shares. Bakkt CEO Akshay Naheta highlighted the strategic aim to integrate Bakkt's institutional-grade infrastructure with DTR's AI-powered payment engine and stablecoin technology, creating a 24/7 digital settlement layer bridging traditional finance and digital assets. The acquisition follows Bakkt's recent efforts to strengthen its market position, including a $48 million share sale in February to mitigate market uncertainty and delisting risks. The company has also rebranded itself as Bakkt Inc., signaling its commitment to expanding its role in the digital asset ecosystem.
Bakkt Acquires Stablecoin Firm DTR, Issues Over 11.3 Million Shares
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