Welcome to our dedicated page for Bakkt Holdings news (Ticker: BKKT), a resource for investors and traders seeking the latest updates and insights on Bakkt Holdings stock.
Bakkt Holdings, Inc. (NYSE: BKKT) is a prominent player in the digital asset industry, striving to unlock the $1.2+ trillion potential held in cryptocurrencies, rewards and loyalty points, gaming assets, and merchant stored value. Established in 2018, Bakkt's mission is to bring trust and transparency to digital assets, serving both institutional and consumer markets.
Bakkt's core offerings include the Bakkt Warehouse and Bakkt® Bitcoin Futures and Options Contracts, providing an end-to-end regulated market with genuine price transparency for institutional clients. This allows for secure storage and seamless trading of digital assets under stringent regulatory standards.
For consumers, Bakkt aggregates digital assets to facilitate instant liquidity and empowers users to trade, transfer, and pay in a flexible manner. This is achieved through an intuitive technology platform that can be accessed via application programming interfaces (APIs) or an embedded web experience, simplifying the process of managing digital assets.
Moreover, merchants within the Bakkt ecosystem benefit from reduced payment acceptance costs, enhanced customer engagement, and minimized loyalty liability through diverse redemption options. Bakkt's solutions enable businesses to efficiently handle loyalty points and provide a full spectrum of content for customers to redeem loyalty currencies effectively.
Financially, Bakkt generates revenue through subscription and service fees and transaction-based activities. Their institutional-grade technology offers a robust custody solution, catering to both experienced market participants and new users, making the buying, selling, and storing of crypto straightforward and secure.
Bakkt continues to innovate and expand its offerings, aiming to enhance the digital asset experience for all stakeholders. The company's commitment to transparency and regulated market practices positions it as a leader in the evolving digital economy.
Bakkt Holdings, Inc. (NYSE: BKKT) has appointed De’Ana Dow and Jill Simeone to its Board of Directors, expanding its board to ten members. Dow, partner and general counsel at Capitol Counsel, brings extensive expertise in financial markets and regulatory matters, having worked with the Commodity Futures Trading Commission. Simeone, Chief Legal Officer at Etsy (NASDAQ: ETSY), has significant experience in corporate governance and risk management. The addition is expected to enhance Bakkt's strategic initiatives and deepen the board's expertise in financial and retail sectors.
Bakkt Holdings (NYSE: BKKT) announced a partnership with American Bank to enhance digital banking services by integrating the Bakkt® crypto connect solution. This initiative will allow American Bank's customers to buy, sell, and hold bitcoin and Ethereum. The service aims to capitalize on the growing consumer interest in cryptocurrency, as a recent study indicates that over half of cryptocurrency holders prefer to access it through their bank. The launch is anticipated in Q2 2022.
Bakkt Holdings (NYSE: BKKT), a digital asset platform, will participate in the Barclays Crypto and Blockchain Summit on March 29-30, 2022. CEO Gavin Michael is set to engage in a fireside chat on March 30 at 8:40 AM ET. Interested parties can listen via a live audio webcast on www.bakkt.com, with replays available post-event. Bakkt enables consumers to buy, sell, and spend digital assets, enhancing consumer spending and loyalty programs.
Bakkt Holdings (NYSE: BKKT) released its "Women & Crypto" study, revealing insights into women's perceptions and barriers to cryptocurrency ownership. The study highlights that 52% of women hesitating to invest cite a lack of understanding of crypto and not knowing how to start. Notably, 70% of women rate their crypto knowledge as low. In contrast, once women invest, their confidence increases significantly. The study shows that new pathways like gifting crypto or redeeming loyalty points are appealing to both genders, suggesting a growing momentum for women's crypto adoption.
Bakkt Holdings, Inc. (NYSE: BKKT) will participate in two investor conferences in March 2022. The first is the JMP Securities Technology Conference on March 7, featuring a fireside chat with CEO Gavin Michael at 5:00 PM ET. The second is the Wolfe Research FinTech Forum on March 10, where Michael will participate in a crypto panel discussion at 12:00 PM ET. Live webcasts of both events can be accessed through Bakkt’s website, with replays available afterwards.
Bakkt Holdings, Inc. (NYSE: BKKT), a leading digital asset platform, announced participation in two investor conferences in March 2022. Management will attend the Jefferies Payments & FinTech Summit on March 1, 2022, and the Keefe, Bruyette & Woods Fintech & Payments Conference on March 3, 2022, featuring a fireside chat with CEO Gavin Michael at 1:55 PM ET. Interested investors can access a live webcast of the Keefe presentation on the company's website, with replays available afterward.
Bakkt Holdings reported Q4 2021 net revenue of $13.7 million, a 45% increase year-over-year. 2022 projections estimate revenue growth to $60-$80 million. The company emphasizes strong growth in crypto services and partnerships with banks and loyalty programs. Despite significant non-cash charges related to their business combination, Bakkt holds over $390 million in cash for expansion. Notable partnerships include Manasquan Bank and Wyndham Rewards. Operating losses were substantial, reflecting the costs of business combination activities.
Bakkt Holdings has released its "Bakkt Loyalty and Rewards 2022 Outlook Study," revealing key trends in consumer attitudes towards crypto rewards. The study, which surveyed 1,000 U.S. consumers, indicates a significant shift: 72% of recent crypto buyers are open to redeeming loyalty points for cryptocurrency. About half prefer earning crypto over traditional points. High-income consumers (58% of those earning over $100,000) show strong interest in crypto rewards. This growing consumer interest indicates a transformative trend in loyalty programs, emphasizing the importance of crypto education to bridge understanding gaps.
Bakkt Holdings, Inc. (NYSE: BKKT) has announced a partnership with Valliance Bank to provide bank customers with access to buy, sell, and hold cryptocurrencies like Bitcoin and Ethereum through the bank's mobile app. This partnership aims to simplify cryptocurrency access within a trusted banking environment, leveraging Bakkt's secure crypto connect solution. Valliance Bank has over $580 million in assets and operates in Oklahoma and Texas, with plans to integrate Bakkt's offering in Q2 2022.
Bakkt Holdings, Inc. (NYSE: BKKT) announced preliminary financial results for Q4 2021, reflecting the impacts of its business combination with VPC Impact Acquisition Holdings that closed on October 15, 2021.
Intercontinental Exchange (NYSE: ICE) anticipates a $92 million loss related to its equity investment in Bakkt for the same period. Bakkt expects a pre-tax loss between $150 million and $155 million, including non-cash charges of $45-$50 million for compensation and $79 million for mark-to-market expenses. Final Q4 results will be disclosed on February 17, 2022.
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