Bakkt, Inc. (NYSE: BKKT) is a financial technology company providing digital asset trading, stablecoin payment and cross-border settlement infrastructure to financial institutions, fintechs and other business clients. Founded in 2018, it operates through Bakkt Markets, Bakkt Agent and Bakkt Global.
Products and services
- Bakkt Markets: infrastructure for digital asset trading, fiat-to-stablecoin conversion, payments and settlement.
- Bakkt Agent: programmable financial-services tools combining AI interfaces with onboarding, virtual accounts, payment rails and stablecoin infrastructure.
- Bakkt Global: international expansion through selected investments and commercial partnerships. Minority equity positions and warrants do not establish ownership of an entire investee business.
In its November 9, 2026 results, Bakkt said its Payments Portal was live for business clients. It separately described an institutional cross-border trading desk and a stablecoin card program as planned initiatives, subject to readiness, client timing and applicable approvals.
Business changes
Bakkt completed its acquisition of Distributed Technologies Research on April 30, 2026, adding stablecoin and agentic payments infrastructure. CryptoSlate covered the transaction and DTR's pre-acquisition financial statements. Gyzer Network joined the group in May 2026.
Bakkt announced the sunsetting of its consumer app in 2023. Its 2025 annual report records the sale of Bakkt Trust to an ICE entity on May 15, 2025, and the sale of its loyalty and travel-redemption business on October 1, 2025. Current custody arrangements depend on the service, contracting entity and custody partner.
Licensing and customer access
Bakkt's November 4, 2026 licensing disclosure identifies Bakkt Financial Solutions I, LLC, NMLS 1890144, as its U.S. licensed operating entity. The NYDFS register lists that entity with virtual currency and money-transmitter licenses. Bakkt also reports FinCEN money-services-business registration and state money-transmission authorizations. These permissions belong to the named entity; registration is not a regulator endorsement or a group-wide authorization.
Products may be accessed through client partners, with availability, account eligibility, assets and fees defined by the relevant agreements. Bakkt's disclosures describe digital asset market, custody and service-provider risks and state that digital assets are not protected by FDIC deposit insurance or SIPC coverage.
