Key Highlights
- Bakkt agreed to acquire Distributed Technologies Research (DTR) to expand its stablecoin settlement capabilities.
- The deal accelerates Bakkt’s shift toward programmable payments and banking use cases in 2026.
- The company will rebrand as Bakkt, Inc. on January 22 and host an Investor Day in March.
Bakkt, a digital asset platform, has agreed to acquire Distributed Technologies Research Ltd. (DTR), a stablecoin payments infrastructure provider, as it steps up efforts to position itself as a unified financial infrastructure platform. The deal, announced on Monday, is expected to close subject to regulatory and shareholder approvals.
According to the official release, the acquisition strengthens its ability to settle stablecoin payments globally while reducing reliance on third-party providers. Management framed the move as a practical step toward supporting merchant payments, programmable money, and future banking-style products as demand for regulated crypto rails grows.
Deal structure and governance
Under the agreement, Bakkt will issue Class A shares equal to 31.5% of a predefined share pool to DTR shareholders, including DTR founder Akshay Naheta. Based on current figures, this would translate to roughly 9.1 million new shares, though the final number may change before closing.
The transaction was reviewed and approved by a special committee of Bakkt’s board. Intercontinental Exchange, which owns about 31% of Bakkt’s Class A shares, has also committed to vote in favor of the deal.
From crypto access to payments plumbing
Bakkt said the acquisition is meant to speed up its transition from a crypto access provider to a payments infrastructure. By bringing DTR’s technology in-house, the company expects faster rollout of stablecoin settlement, tighter integration across products, and a clearer path toward regulated banking-style offerings.
Colleen Brown, Director and member of the Special Committee of Bakkt’s Board of Directors, commented on the development, stating, “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.”
She added, “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.”
Rebrand and next steps
Alongside the deal, Bakkt confirmed it will formally change its name to Bakkt, Inc. The company will adopt the new name on January 22 while keeping its BKKT ticker and plans to host an Investor Day at the NYSE on March 17 to lay out its payments and banking plans for 2026.
The move comes as more firms lean into regulated crypto payments. Recent steps by players like Ripple in the UK point to a shift toward building settlement systems rather than speculative products.
Bakkt shares were trading near $17.54 at the time of writing, up about 7.7% on the day, valuing the company at roughly $413 million, according to Yahoo Finance.
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