Bakkt completes acquisition of stablecoin payment company Distributed Technologies Research
Odaily News, digital asset company Bakkt announced the completion of its acquisition of stablecoin infrastructure company Distributed Technologies Research (DTR) through an equity transaction. According to the agreement, Bakkt issued over 11.3 million shares to DTR's beneficial holders, with the potential to issue an additional approximately 725,000 shares. Bakkt CEO Akshay Naheta stated that the transaction aims to combine Bakkt's institutional-grade infrastructure with DTR's native AI-powered payment engine and stablecoin technology to build a 24/7 digital settlement layer, providing a critical bridge between traditional financial systems and next-generation digital assets. Additionally, the company has been renamed Bakkt Inc. Previously, the project raised $48 million through a stock sale in February to navigate market uncertainties and potential delisting risks. (Cointelegraph)
