Bakkt Announces Its First Acquisition
Hacker Noon
Main page News, Fintech, Crypto Market, Cryptocurrency, Bitcoin-ETF
Hot topic
Jan. 14, 2019
305 305

Crypto-focused digital ecosystem Bakkt has announced its very first acquisition via its Medium blog. According to the announcement, the platform has acquired certain assets of Rosenthal Collins Group (RCG).

Rosenthal Collins Group is an independent managed futures broker providing an array of automated trading programs for investors with nearly 100 years of earning clients’ trust.

Kelly Loeffler, CEO of Bakkt, says Bakkt’s aim was to purchase certain valuable assets related to developing of the platform.

"First, it [the acquisition] will enhance our risk management and treasury operations with systems and expertise. Other aspects of the transaction will contribute to our regulatory, AML/KYC and customer service operations as we help enable digital asset acceptance by bringing more choice and control to buyers and sellers," said Loeffler.

Loeffler claims the acquisition underlines the fact that Bakkt is not standing still as it awaits regulatory approval by the CFTC for the launch of regulated trading in the crypto market.

Earlier, the crypto-focused trading platform attracted $182.5 million in its first round of funding.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Please describe the error