Bakkt Enters the World of Crypto Accounts with the Acquisition of Apex Crypto for $200M! The platform enables investments in digital assets

Bakkt has completed its acquisition of Apex Crypto LLC, according to an April 3 announcement. It is a blockchain technology platform for major technology players to invest in cryptoassets.

The report follows the previous announcement of the planned purchase of the platform by Bakkt Holdings, which provides digital asset management. In November, Bakkt said it would pay $55 million in cash for the trading platform, along with stock worth an estimated $145 million.

Apex Crypto is a turnkey platform that enables fintech businesses to offer cryptocurrency investments to their clients. It has already brokered $12.5 billion worth of crypto trades since its inception.

The platform was launched in 2019. It currently has 30 large clients for whom it processes the execution and settlement of trades with digital assets, their custody, as well as tax services.

Bakkt CEO Gavin Michael said:

“ Tato akvizice představuje pro Bakkt novou vzrušující kapitolu, významně posunuje části našeho krpto plánu kupředu, pomohla nám proniknout do světa 5,8 milionů účtů s krypto službami a dále etabluje Bakkt jako preferovaného poskytovatele kryptoměnových služeb B2B2C. “

Společnost uvedla, že očekává, že transakce podpoří cestu společnosti zpět k ziskovosti prostřednictvím zrychlení produktů, diverzifikace příjmů a nákladových synergií.

“ The joint capabilities will open up new opportunities to reach the next generation of consumers, such as crypto rewards, as well as the potential to enter international markets through partners, the firm wrote in its announcement. “

Bakkt is a subsidiary of Intercontinental Exchange, Inc., the parent organization of the New York Stock Exchange.