Overview
- Bakkt completed the purchase of Distributed Technologies Research, a firm focused on stablecoin payments infrastructure.
- At closing the company issued 11,316,775 Class A shares to DTR holders, with up to 725,592 additional shares possible through warrants.
- Bakkt said it will integrate DTR’s AI‑native payments engine and compliance tools to lessen dependence on older bank‑to‑bank correspondent networks.
- The company is making stablecoin settlement—a cryptocurrency designed to hold a steady value—a core focus to build a 24/7 layer for institutions and fintechs.
- The stock fell about 8% to $7.86 before the deal closed, then recovered to $8.62 by the next market close.