Bakkt Acquires Stablecoin Infrastructure Provider DTR in Stock Deal
Bakkt Holdings (NYSE: BKKT) surged 18% to $19.21 after announcing its acquisition of Distributed Technologies Research Ltd. (DTR), a stablecoin payment infrastructure provider. The deal values DTR at approximately 9.1 million shares of Bakkt Class A common stock, representing 31.5% of the "Bakkt Share Number" per March 2025 agreements.
DTR CEO Akshay Naheta—who concurrently leads Bakkt—and other shareholders will receive equity consideration. The transaction consolidates stablecoin settlement infrastructure, accelerating Bakkt's payment product roadmap while reducing third-party dependencies.
"This accelerates our evolution toward programmable money and next-gen financial infrastructure," said Bakkt director Colleen Brown. Director Mike Alfred added the MOVE positions Bakkt for a neobanking rollout with distribution partners.
