New York Stock Exchange lists crypto company, Bakkt on Monday

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In a statement, the Intercontinental Exchange said Bakkt will begin trading on Monday as a public company on the New York Stock Exchange.

The Intercontinental Exchange (the parent company of the New York Stock Exchange) launched Bakkt in 2018 as a crypto custodian: it holds Bitcoin securely in a cold warehouse for institutional investors.

With the launch of its Visa debit card in June, Bakkt has transformed into a digital asset marketplace offering futures transactions on Bitcoin, a mobile app that allows users to spend Bitcoin on items of all kinds. days and a Bitcoin investment fund.

Bakkt and VPC Impact Acquisition Holdings merged on Friday and the company will begin trading under the symbol BKKT on the New York Stock Exchange.

Its business plan is all to acquire other companies and help them go public, making it an empty checking company.

Bakkt said it would go public in January. The Bitcoin company was reportedly valued at over $ 2 billion at the time.

Bakkt announced last week that it is partnering with Google for a variety of services. The Bakkt Visa debit card can be used anywhere that uses Google Pay to buy crypto.

Using Google Cloud, Bakkt will also create new analytics with artificial intelligence, machine learning, and geospatial information.

Since 2019, Bakkt has been working to enable its users to spend Bitcoin as currency, partnering with Starbucks to allow people to buy coffee with cryptocurrency.

Several cryptocurrency companies have recently gone public, including Bakkt. The Nasdaq listed Coinbase, the largest crypto exchange in the United States, in April.

Shares of publicly traded cryptocurrency companies are often viewed as indirect bitcoin investments, as their values ​​are often affected by the volatile cryptocurrency market.

Bakkt has since evolved beyond its original vision of trust and transparency for digital assets to build consumer applications for Crypto.

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