Crypto platform Bakkt this Monday officially disclosed its readiness to list on the New York Stock Exchange through a merger with another company.
Bakkt teamed up with VPC Impact Acquisition Holdings, which held an initial public offering (IPO) in September 2020 to go public. The resulting entity was named Bakkt Holdings, Inc. and is estimated at $ 2.1 billion.
As part of the initiative, Bakkt has also appointed a new CEO, former Citi manager Gavin Michael. In this role, he will replace interim CEO David Clifton, who will join the board of directors of blended education.
Bakkt also announced today new details of the Bakkt Cash retail app, which is being prepared for launch. Its release is scheduled for March this year. More than 400,000 people have already applied to access the app, according to the company. Earlier it was reported that the integration of Bakkt Cash will be carried out by the Starbucks coffee chain, thanks to which its customers will be able to replenish their wallets with cryptocurrency.
Bakkt was launched in 2018 and specializes in organizing regulated bitcoin futures trading. The platform is owned by Intercontinental Exchange, which is also the operator of the New York Stock Exchange.
Information that Bakkt may soon gain public status first surfaced last week.
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