Bakkt to List Bitcoin Company on NYSE

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The Bakkt digital asset market will be made public through a Special Purpose Acquisition Company (SPAC) on the New York Stock Exchange (NYSE) on Monday, October 18, Decrypt reported.

Bakkt started out as a cryptocurrency custodian that holds bitcoins for large investors, but has grown into a platform for bitcoin futures trading and a mobile app that allows users to spend their digital coins. for everyday goods in stores. A Visa debit card launched in June, according to the report.

The Intercontinental Exchange, the parent company of NYSE and owner of Bakkt, said on Friday (October 15) that Bakkt had completed a merger with blank check company VPC Impact Acquisition Holdings to allow the company to trade on NYSE under the stock symbol BKKT, indicates the report.

Bakkt first mentioned its intention to go public in January, when the company was valued at around $ 2 billion. The company partnered with Starbucks in 2019 to allow consumers to purchase coffee and other goods with bitcoin.

Earlier this month, Bakkt announced that it is working with Google on a project that will extend access to digital assets to millions of new customers, saying it was created to extend the reach and usability of assets. digital technologies to meet rapidly changing consumer demand and preferences.

Read more: Bakkt / Google partnership enables expanded access to digital assets

Bakkt users can use their Bakkt virtual debit cards in Google Pay to make purchases online, in stores and anywhere Google Pay is accepted. Bakkt has also chosen Google Cloud as its cloud provider and will market its Google Cloud-based solutions to retailers and merchants in the United States.

Bakkt also plans to add new analytics and artificial intelligence (AI), machine learning (ML) and geolocation capabilities to its platform to leverage in-depth and geo-located business insights by leveraging the tools of tip of Google Clouds.

The company said the information would provide customers with expanded loyalty options while providing its partners with valuable customer behavior models.

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