Bakkt Holdings, Inc. has announced a strategic acquisition of Distributed Technologies Research Ltd. (DTR), a move designed to accelerate its push into stablecoin settlement and programmable payments. The transaction, structured as an all-equity deal, will see Bakkt issue approximately 9.1 million shares of its Class A common stock to DTR shareholders, representing 31.5% of the defined "Bakkt Share Number."
The acquisition is a core part of Bakkt's strategy to evolve into a unified financial infrastructure platform. By bringing DTR's proprietary stablecoin payment and settlement technology in-house, Bakkt aims to reduce reliance on third-party providers and accelerate its time-to-market for new payment solutions. The company believes this will unlock new revenue opportunities across banking and enterprise payment use cases.
The deal follows months of integration work between the two firms and has been approved by an independent special committee of Bakkt's board. Completion remains subject to customary closing conditions, including regulatory approvals and Bakkt shareholder consent. Intercontinental Exchange, Inc. (ICE), which owns approximately 31% of Bakkt's Class A stock, has agreed to vote in favor of the transaction, providing significant shareholder backing.
In a related corporate development, Bakkt announced it will change its legal name to "Bakkt, Inc." effective January 22, 2026, while continuing to trade on the New York Stock Exchange under the ticker BKKT. This rebranding reflects the company's transition toward a global financial infrastructure provider.
Industry analysts view the acquisition as a strategic masterstroke, positioning Bakkt at the intersection of institutional custody and mainstream payment solutions. The move addresses a growing market demand for integrated digital asset services, allowing clients to manage treasury assets and execute payments from a single, regulated platform. The acquisition is seen as both a defensive move to fortify its service offerings against competitors and an offensive strategy to capture a share of the burgeoning enterprise payments market, which Juniper Research forecasts will exceed $4.4 trillion in transaction value by 2025.
DTR contributes specialized middleware for stablecoin transactions, including regulatory compliance checks, real-time settlement reporting, and multi-chain interoperability. Bakkt's immediate gains from the merger include enhanced enterprise solutions, improved broker-dealer services with instant settlement, and more efficient loyalty and rewards program payouts.
