On October 18, Bakkt common stock and warrants will be able to trade on the New York Stock Exchange.
Bakkt, the Intercontinental Exchange (ICE) bitcoin futures exchange with crypto custody service, completes its merger with VPC Impact Acquisition Holdings, Intercontinental Exchange (ICE). This is based on a recently published Press release emerged. As agreed, the company will be listed on Monday, October 18, 2021 on the New York Stock Exchange (NYSE). In the future, investors should be able to acquire common shares and warrants under the ticker names BKKT and BKKT WS. Additionally, as believed in January and reported by BTC-ECHO, the company’s market value is now $ 2.1 billion.
A look into Bakkt’s past
At that time, the Intercontinental Exchange announced the scheduled merger of the Chicago-based special purpose vehicle VPC Impact Acquisition Holdings with Bakkt. ICE now holds around 68 percent of the shares in the merged company. This combination now results in gross proceeds of approximately $ 448 million for Bakkt. This is to be used for the expansion of further partnerships and the capabilities of the company.
The developments of the past week show that the company is already fully active in this expansion. As a reminder: In this Bakkt announced its cooperation with Google Pay. As BTC-ECHO reported in detail, this creates great potential for Bakkt. Because of the partnership, Google Pay users should be able to use the app to pay for their goods and services with some crypto currencies such as Bitcoin. In the future, the company plans to expand its own ecosystem through further prominent partnerships:
We continue to focus on building a broader partner ecosystem, expanding the digital assets we capture and offer today, and through partnerships with leading companies in a variety of industries such as Choice Hotels, Wyndham Rewards, Google, Finastra and Starbucks, to just to name a few, to gain momentum.
Gavin Michael, CEO in press release
This will be possible in combination with the payment app released in March. Interested investors can use this to buy and sell cryptocurrencies. Previously, Bakkt made it possible for some accredited investors to trade BTC futures contracts.