Bakkt secures $300 Million in Series B Funding Round

Bakkt secures $300 Million in Series B Funding Round

Digital assets platform Bakkt has secured $300 million in Series B funding despite bear market gripping the cryptocurrency market.

Bakkt's parent firm Intercontinental Exchange, Microsoft’s M12, PayU, Boston Consulting Group, Goldfinch Partners, CMT Digital, and Pantera Capital participated in latest funding round, notes the announcement.

Executive Opinion

In a blog post, Bakkt CEO Mike Blandina said, "With the completion of our Series B financing and recent acquisition of Bridge2 Solutions, Bakkt is now a team of 350 employees and powers the loyalty redemption programs for 7 of the top 10 financial institutions and over 4,500 loyalty and incentive programs including two of the largest US airlines. We have the unique opportunity to leverage the technology, infrastructure and partners across our businesses to bring innovative new products to market and in doing so expand access to the global economy."

Bakkt brings Digital Assets to Retail space

Intercontinental Exchange (ICE) recently agreed to acquire Bridge2 Solutions which is now closed, notes the announcement. Bridge2 Solutions is a leading provider of Loyalty Programs. Also, ICE owns the majority of stake in its subsidiary Bakkt. The then announcement noted that Bakkt intends to acquire Bridge2 solutions from ICE.

The global ecosystem for digital assets represents over $1.2 trillion in value. The digital rewards, loyalty points, in-game virtual assets, merchant stored value, gift cards, and cryptocurrencies are part of that ecosystem.

Bakkt plans to integrate Bridge2 solution with their app. This will possibly allow them to offer loyalty programs to their customers that could also include cryptocurrencies or some form of digital assets.

The announcement noted that Bakkt app will be launched this summer.


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Mandar is a seasoned software professional for more than a decade. He is Cloud, AI, IoT, Blockchain and Fintech enthusiast. He writes to benefit others from his experiences. His overall goal is to help people learn about the Cloud, AI, IoT, Blockchain and Fintech and the effects they will have economically and socially in the future.

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