Bakkt Acquires Stablecoin Firm DTR in All-Stock Deal, Shares Jump 10%
Bakkt Holdings confirmed its acquisition of Distributed Technologies Research (DTR), a stablecoin payments infrastructure firm, in an all-stock transaction. The deal, contingent on regulatory and shareholder approval, propelled Bakkt's shares up 10% post-announcement.
Intercontinental Exchange, Bakkt's largest shareholder, backs the strategic move to enhance global stablecoin settlement capabilities. The acquisition aligns with Bakkt's ambition to build a unified programmable payments platform—a critical infrastructure LAYER for institutional crypto adoption.
Market reaction suggests investor confidence in Bakkt's pivot toward stablecoin interoperability. The transaction positions Bakkt to compete directly with established players in the institutional digital asset settlement space.