Bakkt’s cryptocurrency platform is reportedly planning to go public on the New York Stock Exchange. Starting next Monday, it will start trading as a publicly traded company on this New York Stock Exchange (NYSE).
Bakkt has grown significantly
In 2018, Bakkt was launched by the Intercontinental Exchange. This is in fact the parent company of the New York Stock Exchange. At the time, Bakkt was launched as a crypto custodian. The company therefore stores Bitcoin (BTC) in a safe way for large investors, via cold storage devices.
However, since its launch in 2018, the company has grown significantly. In addition to offering the crypto custody service they originally started out with, they now offer an entire digital asset marketplace. They also offer a Bitcoin futures trading service for their users and have a mobile application that allows users to spend their Bitcoin on everyday products.
Fusion is complete
Bakkt . is reported to have a fusion completed with the company ‘VPC Impact Acquisition Holdings’. The company is reportedly getting the tag ‘BKKT’ on the New York Stock Exchange. This VPC Impact Acquisition Holdings is a “blank check” company. This simply means that it has no business plan other than acquiring other companies and then helping them go public.
Bakkt already announced last January that they had plans to go public. It is certainly no secret that this step is now being taken. It was certainly not an unexpected decision.
Collaboration with Google
Bakkt announced last week that it has entered into a partnership with Google. This partnership will reportedly allow users to spend their cryptocurrencies with the Bakkt Visa debit card, but at the millions of merchants worldwide on Google Pay.
In addition, Bakkt will now use the Google Cloud to build their new analytics, including the use of artificial intelligence (AI), machine learning and geolocation. This should lead to a better service for the users of the platform in the future.
As of Monday, investors could already invest in something that will bring them even closer to Bitcoin than shares in Bakkt, namely the first Bitcoin futures ETF.
— Bakkt (@Bakkt) October 8, 2021