Bakkt completes acquisition of stablecoin payment company Distributed Technologies Research

Odaily Planet Daily News: Digital asset company Bakkt has announced the completion of its acquisition of Distributed Technologies Research (DTR), a stablecoin infrastructure company, through an equity transaction. According to the agreement, Bakkt issued over 11.3 million shares to DTR's beneficial holders, with the potential to issue approximately 725,000 additional shares. Bakkt CEO Akshay Naheta stated that the transaction aims to integrate Bakkt's institutional-grade infrastructure with DTR's native AI-powered payment engine and stablecoin technology, building a 24/7 digital settlement layer that provides a critical bridge between traditional financial systems and next-generation digital assets. Additionally, the company has been renamed Bakkt Inc. Previously, in February, the project raised $48 million through a stock sale to address market uncertainties and potential delisting risks. (Cointelegraph)