Rich by Coin

Bakkt has agreed to acquire Distributed Technologies Research, a global stablecoin settlement provider, in a move to accelerate its expansion into programmable payments and digital banking infrastructure. The transaction will see Bakkt issue Class A shares representing about 31.5 percent of the Bakkt Share Number, roughly 9.1 million shares, with the final amount determined at closing. The equity consideration reflects DTR’s payment architecture value, expected to reduce third-party dependence and unlock new revenue opportunities. Intercontinental Exchange, which owns around 31 percent of Bakkt, has agreed to vote in favor.

A special committee of Bakkt’s board approved the transaction after an independent review. Bakkt said integrating DTR will consolidate key parts of its stablecoin settlement stack and support its forthcoming neobanking strategy. The company will rebrand as Bakkt, Inc. on 22 January and plans to host an investor day in March. Colleen Brown, a director and special committee member, remarked that the deal accelerates Bakkt’s evolution toward programmable money, and Akshay Naheta said the acquisition completes the transformation of Bakkt into a unified infrastructure platform.