Bakkt Acquires DTR to Supercharge Stablecoin Payments and Rebrands

Bakkt will acquire DTR in an all-stock deal to boost stablecoin settlement and programmable payments, with Intercontinental Exchange backing the move. Bakkt will rebrand as Bakkt, Inc. and retain its BKKT ticker.

Bakkt Holdings has announced an agreement to acquire Distributed Technologies Research (DTR), a stablecoin payments infrastructure provider, through an all-stock transaction. The deal involves issuing approximately 9.1 million Class A shares, representing 31.5% of Bakkt’s share number, to DTR shareholders. The acquisition aims to accelerate Bakkt’s stablecoin settlement and programmable payments capabilities, reduce reliance on third-party providers, and support revenue growth in payments and banking. The transaction is subject to regulatory and shareholder approval, with Intercontinental Exchange, which owns about 31% of Bakkt’s shares, agreeing to support the deal. Bakkt’s shares rose about 10% following the announcement. The integration of DTR’s technology, including the ION Network, is expected to enhance Bakkt’s global financial infrastructure, enabling stablecoin-based cross-border payments and AI-driven programmable finance. Bakkt will rebrand as Bakkt, Inc. effective January 22, while retaining its ticker symbol BKKT on the New York Stock Exchange.