Bakkt
| Company type | Public |
|---|---|
| Industry | Cryptocurrency, Financial services, Software as a service |
| Founded | 2018 |
| Headquarters | Alpharetta, Georgia and New York City , United States |
Key people | Akshay Naheta (co-CEO) |
| Products | SaaS and API platform for cryptocurrency ownership and exchange |
| Owner | Intercontinental Exchange (55% stake) |
| Parent | Intercontinental Exchange |
Bakkt Holdings, Inc., with offices located in both Alpharetta, Georgia and New York City, provides a software as a service (SaaS) and API platform designed for the ownership and exchange of cryptocurrency. Established with a 55% stake held by Intercontinental Exchange (ICE)—the parent company of the New York Stock Exchange—Bakkt's revenue streams primarily come from fees associated with cryptocurrency transactions, including payments, purchases, and sales.
2018–2020: Operations under ICE ownership
Bakkt was introduced in August 2018 by Intercontinental Exchange in collaboration with partners such as Boston Consulting Group, Microsoft, and Starbucks, aiming to create a digital asset management system. The platform initially concentrated on trading and converting Bitcoin (BTC) against traditional fiat currencies. Leadership was under CEO Kelly Loeffler until her appointment to the Senate.
To expand its consumer payment functionalities, Bakkt acquired assets from Rosenthal Collins Group in January 2019. Subsequently, in April 2019, it purchased Digital Asset Custody Company (DACC) to enhance its custody solutions. Despite regulatory setbacks, ICE commenced bitcoin futures trading in September 2019.
In February 2020, ICE further bolstered Bakkt's portfolio by acquiring Bridge2 Solutions, a provider specializing in loyalty rewards, integrating this into Bakkt’s service offerings.
2021–present: Transition to a publicly traded company
Bakkt transitioned to a publicly listed entity in October 2021 through a merger with VPC Impact Acquisition Holdings, a special-purpose acquisition company backed by Victory Park Capital, resulting in Bakkt’s listing on the New York Stock Exchange.
The company's growth continued in April 2023 with the acquisition of Apex Crypto, a Chicago-based cryptocurrency trading platform, for $155 million.
Leadership changes occurred in March 2025 when Akshay Naheta was named co-chief executive officer to spearhead restructuring initiatives.
In an effort to optimize operations, Bakkt divested its loyalty points division for $11 million in July 2025.