Bakkt Finalizes Acquisition of DTR to Build AI-Driven Stablecoin Settlement Layer

Bakkt has officially closed its acquisition of Distributed Technologies Research (DTR), marking a strategic pivot toward the creation of a comprehensive digital settlement layer. The transaction, executed via an equity swap, integrates DTR’s native artificial intelligence payments engine and stablecoin capabilities into Bakkt’s existing institutional framework. The acquisition comes as the global stablecoin market reaches approximately $320 billion. By absorbing DTR's technology, Bakkt intends to provide a critical bridge between traditional legacy finance and the evolving digital asset ecosystem, facilitating faster, around-the-clock money movement. Under the terms of the deal, Bakkt issued over 11.3 million shares to DTR beneficial holders, with an additional 725,592 shares potentially available. This represents an increase from the 9.3 million shares originally proposed when the deal was first announced in January. Concurrent with the acquisition, the company has rebranded as Bakkt Inc. The announcement follows a period of volatility for Bakkt (BKKT). After a dip to $7.86 on Wednesday, shares recovered to close at $8.62 on Thursday, reflecting a 10% increase. This recovery follows a challenging 2024, which included a NYSE delisting warning in March and failed acquisition talks with Trump Media. Bakkt remains 55% owned by Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, and continues to maintain partnerships with major entities including Mastercard and Starbucks.