Bakkt Makes Power Move: Acquires Distributed Technologies Research to Dominate Stablecoin Payments
Bakkt just signaled its ambitions aren't just about custody anymore—they're about controlling the rails. The institutional crypto platform is acquiring Distributed Technologies Research (DTR), a strategic grab aimed squarely at the booming stablecoin payments sector. This isn't a side project; it's a frontal assault on how digital dollars move.
Building the Institutional On-Ramp
Forget retail speculation. Bakkt's playbook targets corporations, hedge funds, and payment processors drowning in legacy settlement delays. The acquisition bundles DTR's research and tech stack directly into Bakkt's regulated infrastructure. The goal? To let big money move value globally in seconds, not days, using dollar-pegged digital assets. It bypasses the traditional banking spaghetti of correspondent networks and time-zone delays.
Why Stablecoins? Follow the Volume.
The calculus is simple. Transaction volume for leading stablecoins now dwarfs most traditional payment networks on some days. That's a market too lucrative for any finance-adjacent firm to ignore—even if, let's be honest, half of Wall Street still pretends not to understand how a 'digital dollar' works while quietly building a backdoor to use them.
The Regulatory Tightrope
This push doesn't happen in a vacuum. Bakkt, born from ICE (the New York Stock Exchange's parent), has always played the long regulatory game. Integrating DTR's work is a bet that clarity—and eventually, green lights—are coming for enterprise stablecoin use. They're positioning not as a disruptor, but as the compliant bridge for institutions still wary of crypto's wild west.
One cynical finance jab? It's the ultimate hedge: building the future while waiting for the old guard to finally read the memo. The move cuts through the noise. It signals that the real money in crypto isn't in chasing the next meme coin pump—it's in quietly building the boring, essential plumbing that will eventually make those pumps look like pocket change.
Acquisition Advances Bakkt’s Stablecoin Settlement Strategy
Bakkt said the acquisition is expected to accelerate its time-to-market for stablecoin settlement by bringing Core infrastructure in-house.
The company believes owning DTR’s technology will reduce reliance on third-party providers while allowing new revenue opportunities across payments and banking use cases.
The deal follows months of integration work between the two firms and is intended to support Bakkt’s broader ambition to position itself as a programmable money and next-generation financial infrastructure platform.
Governance, Approvals and Shareholder Support
The transaction was reviewed and approved by an independent special committee of Bakkt’s board, comprised of Colleen Brown and Mike Alfred. Completion remains subject to customary closing conditions including regulatory approvals and Bakkt shareholder consent.
Intercontinental Exchange, Inc., which owns around 31% of Bakkt’s Class A common stock has agreed to vote its shares in favour of the transaction providing a significant level of shareholder backing.
Company to Operate as “Bakkt, Inc.” Effective January 22
Separately, Bakkt announced it will change its corporate name to “Bakkt, Inc.” effective January 22. The company will continue trading on the New York Stock Exchange under the ticker BKKT, with the name change reflecting its transition toward a unified global financial infrastructure platform.
In August, Bakkt acquired approximately 30% of Tokyo-listed textile company MarushoHotta for $115 million, becoming the largest shareholder and planning to rebrand the yarn Maker as “Bitcoin.jp,” effectively pivoting toward crypto treasury operations.
The acquisition transforms the 120-year-old Japanese manufacturer into a Bitcoin-focused investment vehicle under new CEO Phillip Lord, President of Bakkt International.
