Crypto venture Bakkt set to go public via $2 billion merger
Bakkt, the cryptocurrency platform majority owned by Intercontinental Exchange, is in advanced talks to go public through a merger with VPC Impact Acquisition Holdings, according to a report by Bloomberg.
The transaction is set to value the combined entity at more than $2 billion, and an announcement may come as soon as this week, according to anonymous sources.
Representatives for Bakkt, ICE and VPC declined to comment.
Starbucks
Last year, we reported that Starbucks mobile app users were able to pay for their drinks with Bakkt Cash.
Intercontinental Exchange previously announced that the retailer was looking at retail applications for crypto payments.
This was followed by Bakkt President Adam White discussing the new integration on Twitter.
“We're reducing payment costs for merchants which improves their bottom line,” he said.
“Open your @Starbucks app to see our first direct integration and select @Bakkt to sign up for our Early Access Programme.”
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