Bakkt Attracts $300M Series B Investments
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16 March
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A cryptocurrency-focused custody platform and tool for the purchase, sale & storage of bitcoin (EXANTE: Bitcoin) Bakkt has announced it raised an additional $300 million of investments from investors including Intercontinental Exchange, Microsoft’s M12, PayU, Boston Consulting Group, Goldfinch Partners, CMT Digital, and Pantera Capital.

The service also plans to launch a new consumer application that, according to management, will process digital assets worth more than $1 trillion later this summer.

Unregulated Exchanges Will Disappear, Says Bakkt President

Mike Blandina Bakkt CEO says with the completion of Bakkt's Series B financing and the 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.

"We believe that you hold more value than you realize and we’re here to help you track, spend, and send your digital assets however you want," Blandina wrote.

Last year, Bakkt launched its cash-settled bitcoin futures in Singapore. Bakkt's futures are settled at the price of the existing contracts launched in New York in September, however, unlike these, they allow investors to receive payments directly in fiat.

Previously iHodl reported that Bakkt's ex-CEO Kelly Loeffler decided to step down in order to become a U.S. Senator of Georgia...

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