Cryptocurrency infrastructure platform Bakkt Holdings revealed a strategic acquisition of Distributed Technologies Research, which specializes in stablecoin and fiat payment solutions. This announcement has resulted in Bakkt shares experiencing a rise of over 20%, with the deal valued at approximately $178 million.

The notice indicated that Bakkt plans to issue over nine million shares of its Class A common stock as part of this agreement. Currently, Bakkt Holdings (BKKT) shares are trading at $19.54 on the New York Stock Exchange.

“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,” said Mike Alfred, Director of Bakkt’s board.

Bakkt Acquisition

Intercontinental Exchange, which owns the New York Stock Exchange and holds a 31% stake in Bakkt, has confirmed it will support the agreement. Following the merger, Akshay Naheta will continue as the CEO of Bakkt.

The merger is forward-looking, aiming to create a unified financial infrastructure by 2026, pending regulatory and shareholder validations.

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In 2025, the cryptocurrency and blockchain sectors recorded substantial acquisitions totaling $8.6 billion. Notable transactions include Coinbase’s purchase of Deribit, Kraken’s acquisition of Ninjatrader, and Ripple Lab’s acquisition of Hidden Road. As 2026 begins, various firms are advancing their growth strategies, like Fireblocks acquiring a crypto accounting platform and Coincheck’s purchase of a digital asset manager.