Share this article
Bitcoin Exchange Bakkt to Become Publicly Traded With $2.1B Valuation Via Merger
The combined company will be called "Bakkt Holdings" and will be listed on the New York Stock Exchange with an expected valuation of $2.1 billion.
Updated May 9, 2023, 3:14 a.m. Published Jan 11, 2021, 1:54 p.m.
Bitcoin exchange Bakkt has inked a business combination deal that will result in the Intercontinental Exchange subsidiary becoming a publicly traded company.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- According to an announcement Monday, the agreement will see Bakkt merge with VPC Impact Acquisition Holdings, a special purpose acquisition company sponsored by Victory Park Capital.
- The combined company will be called "Bakkt Holdings" and will be listed on the New York Stock Exchange with an expected valuation of $2.1 billion.
- With the announcement, Gavin Michael, former head of technology of Citi’s Global Consumer Bank, is joining Bakkt as CEO effective today.
- Bakkt investors' equity will roll into the combined company, with Intercontinental Exchange contributing an additional $50 million, according to the announcement.
- A year ago, Bakkt acquired loyalty rewards provider Bridge2 Solutions, with help from Intercontinental Exchange.
- The firm is planning a full launch of its Bakkt Cash app this spring, a year or so after Starbucks integrated it as a way for customers to top up their credits with bitcoin.
Read more: Crypto Exchange Bakkt Nears Merger With Victory Park SPAC: Bloomberg
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Stablecoin Adoption Is ‘Exploding' — Here's Why Wall Street Is Going All-In
Alchemy co-founder and president Joe Lau said stablecoin adoption is exploding as banks, fintechs and payment platforms push beyond the USDT/USDC exchange era.
What to know:
- Stablecoin usage is quickly broadening from crypto-native exchanges into payments, payroll and treasury as companies chase 24/7, digital-native settlement, according to Alchemy Co-founder and President Joe Lau.
- Banks are pushing tokenized deposits as a regulated, bank-native alternative that delivers stablecoin-like benefits for institutional clients.
- The endgame is a two-track system — stablecoins for open, two-party settlement; deposit tokens for bank ecosystems, until scale forces convergence and competition, Lau said.
Top Stories
