Mentioned:
Bakkt Holdings is betting big on the future of stablecoins.
What’s happening:
- Bakkt Holdings (NYSE: BKKT) has entered into a new deal to acquire stablecoin payment infrastructure company Distributed Technologies Research in an all stock deal
By the numbers:
- Bakkt Holdings will issue approximately 9.1M common shares as part of the acquisition
Why it matters:
- Distributed Technologies Research operates a payments platform that enables businesses to move stablecoins across 40 different countries and seamlessly convert fiat to stablecoins
Going deeper:
- Distributed Technologies Research’s stablecoin platform links different national payment systems and blockchains into one single stablecoin and settlement layer to be able to facilitate fiat conversion and cross border payments
- Distributed Technologies Research was founded by Akshay Naheta who is the Chief Executive Officer of Bakkt Holdings
