Bakkt, owned by the Intercontinental Exchange (ICE), is in preliminary negotiations to go public through a merger with VPC Impact Acquisition Holdings.
According to Bloomberg, the management of the Bakkt cryptocurrency platform is considering the possibility of the company entering the stock market. Bakkt is currently in talks with dedicated M&A firm VPC Impact Acquisition Holdings, an affiliate of Victory Park Capital.
According to the newspaper’s sources, the deal will cost more than $ 2 billion. Official information on the deal may appear as early as next week. Representatives for Bakkt, ICE and VPC declined to comment.
Last June, Bakkt and Galaxy Digital said they would jointly provide services to institutional clients. Last spring, Bakkt launched a test of the Bakkt Cash payment option on the Starbucks app. With this option, products on the coffee shop chain can be purchased with cryptocurrencies.
More and more companies in the blockchain and cryptocurrency industry are planning to enter or have already entered the stock market. In October, Diginex, which operates with blockchain and cryptocurrencies, was listed on the American Nasdaq exchange under the ticker EQOS after a merger with 8i Enterprises Acquisition Corp.
In December, it was reported that Australia-based digital payments infrastructure provider Banxa was planning to be listed on the Canadian TSX Venture Exchange.
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