Bakkt Holdings announced on January 12, 2026, its acquisition of stablecoin infrastructure firm Distributed Technologies Research Ltd. (DTR) in an all-stock deal involving the issuance of 9.13 million Class A shares. The transaction is pending regulatory and shareholder approvals.
The acquisition is a strategic pivot for Bakkt, designed to accelerate its stablecoin settlement capabilities and programmable payments infrastructure. It aims to reduce the company's reliance on third parties and broaden its neobanking services. "This acquisition broadens the scope of what our platform can deliver across digital assets and settlement," remarked Colleen Brown, a Special Committee Member at Bakkt.
The market reacted with strong optimism, sending Bakkt's stock price surging more than 20% on the New York Stock Exchange, closing at $19.21. This increased the company's market capitalization to approximately $490 million. The deal has the backing of Intercontinental Exchange (ICE), which owns a 31% stake in Bakkt.
A key leadership change accompanies the merger: Akshay Naheta, founder of DTR, is slated to become the CEO of Bakkt post-acquisition. Analysts view the move as setting a new benchmark for consolidation within the digital assets sector, positioning Bakkt to leverage enhanced stablecoin infrastructure for evolving market needs.
