Bakkt Holdings announced it has agreed to acquire Distributed Technologies Research Ltd. (DTR), a global stablecoin payment infrastructure provider, in a deal the company says will accelerate its stablecoin settlement and programmable payments strategy.
Under the definitive agreement, Bakkt plans to pay for DTR primarily with stock. The company said it will issue shares of its Class A common stock representing 31.5% of the “Bakkt Share Number,” a metric defined in a previously disclosed cooperation agreement between Bakkt and DTR filed with the SEC on March 19, 2025. Based on that share number as of Jan. 12, Bakkt said the consideration would equate to about 9,128,682 shares issued to DTR shareholders, including DTR CEO and principal owner Akshay Naheta, with the final share count subject to adjustment under the cooperation agreement prior to closing.
Bakkt said the transaction is expected to bring a key piece of stablecoin settlement infrastructure in-house, reducing reliance on third parties and supporting potential future revenue opportunities across payments and banking use cases. The company also cited ongoing integration work in recent months as supporting the strategic fit of DTR’s technology with Bakkt’s broader platform roadmap.
Closing is subject to customary conditions, including regulatory approvals and Bakkt stockholder approval. Bakkt said the deal was negotiated and approved by an independent special committee of its board comprised of Colleen Brown and Mike Alfred. Intercontinental Exchange, which Bakkt said beneficially owns about 31% of its outstanding Class A common stock, has agreed to vote its shares in favor of the transaction.
Separately, Bakkt said it intends to change its corporate name to “Bakkt, Inc.” effective Jan. 22, 2026, and expects to continue trading on the New York Stock Exchange under the ticker symbol BKKT following the name change. The company also announced plans to hold an Investor Day on March 17, 2026 at the NYSE.
Bakkt, founded in 2018 and headquartered in New York, said it is building infrastructure for institutional participation in the digital asset economy, including initiatives spanning bitcoin, tokenization, stablecoin payments and AI-driven finance.
KEY QUOTES:
“We are pleased to welcome DTR to Bakkt. This transaction accelerates Bakkt’s evolution toward programmable money and new-age global financial infrastructure and reflects a disciplined approach to capital allocation aligned with long-term platform value creation. It broadens the scope of what our platform can deliver across digital assets and settlement, and creates a strong foundation for the next chapter of Bakkt’s growth.”
Colleen Brown, Director and Special Committee Member, Bakkt Board of Directors
“DTR stood out not only for its technology, but for how closely it aligns with the future of digital payments and banking. Our integration work over recent months validated that strategic fit. The acquisition will allow Bakkt to consolidate a critical piece of its stablecoin settlement infrastructure and prepares the company to launch its neobanking strategy with multiple distribution partners in the coming months.”
Mike Alfred, Director and Special Committee Member, Bakkt Board of Directors
“This transaction represents the culmination of a single, cohesive strategy. Bringing DTR fully into Bakkt completes the transformation of the company into a unified global financial infrastructure platform, combining Bakkt’s market presence and regulatory framework with DTR’s technology. Together, we are positioned to unlock new capabilities and efficiencies for merchants, financial institutions, and end users worldwide. Most importantly, this accelerates platform integration and partner adoption as we move into 2026.”
Akshay Naheta, CEO, Bakkt, and Founder, DTR
