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) will release its fourth quarter and full year 2021 earnings on February 17, 2022, before market open. A conference call is scheduled for 9:00 a.m. EST on the same day for management to discuss results and answer questions. To enhance shareholder engagement, a Q&A platform developed by Say Technologies will allow verified shareholders to submit and upvote questions from February 10 to February 16. Details for call attendance and replay options are provided via their investor relations section.
Bakkt Holdings (NYSE: BKKT) announced that Hanover Community Bank has joined its early adopter program, allowing bank customers to buy, sell, and hold cryptocurrencies like Bitcoin and Ethereum via the bank's mobile app. This partnership aims to lower barriers for clients interested in cryptocurrency investments. Hanover Bank, operating with $1.5 billion in total assets, emphasizes technological advancement for superior client service. Bakkt's crypto connect solution is expected to launch in Q2 2022, pending integration with the bank's systems.
Bakkt Holdings, Inc. (NYSE: BKKT) has partnered with Nexo to provide cryptocurrency custody services through the Bakkt Warehouse. This partnership aims to enhance asset security and credibility in the rapidly evolving cryptocurrency market. Bakkt’s infrastructure includes both warm and cold storage solutions, ensuring a robust safety framework. The Bakkt Warehouse is regulated by the New York Department of Financial Services, ensuring compliance and security for users. Both companies aim to address the growing institutional demand for digital assets, positioning themselves for future opportunities.
Bakkt Holdings, Inc. (NYSE: BKKT) announced that Manasquan Bank, a New Jersey community bank with $2.7 billion in assets, will join its early adopter program for cryptocurrency services. This collaboration aims to enable retail clients to buy, sell, and hold cryptocurrencies through the bank's mobile app, enhancing client access to digital assets. The launch is anticipated in Q2 2022, pending the adoption by the bank's core financial service provider. This partnership reflects a growing trend of integrating cryptocurrency into traditional banking services.
Bakkt Holdings (NYSE: BKKT) announced its partnership with BringMeThat.com, expanding payment options for customers and gig economy workers. Customers can utilize crypto or rewards points for their food delivery orders, while drivers can opt for crypto payments. Chief Revenue Officer Sheela Zemlin highlighted this collaboration as a significant diversification for Bakkt, potentially enhancing digital asset utilization among gig workers. This development positions Bakkt favorably in the competitive gig economy landscape.
Bakkt Holdings, Inc. (BKKT) reported its financial results for Q3 2021, highlighting a 38% increase in net revenue to $9.1 million compared to $6.6 million in Q3 2020, driven by heightened customer activity. However, operating expenses surged 60% to $39 million, primarily due to growth investments and merger costs, leading to a net loss of $28.8 million, up from $18 million a year prior. Bakkt's addressable market now exceeds 100 million consumers, supported by strategic partnerships with Finastra, Mastercard, and Fiserv aimed at enhancing crypto capabilities.
Bakkt Holdings (NYSE: BKKT) announced its participation in three upcoming investor conferences. Management, led by CEO Gavin Michael, will present at:
- Citi’s FinTech Virtual Conference on November 16, 2021, at 3:45 p.m. ET.
- Oppenheimer’s Blockchain & Digital Assets Summit on November 18, 2021, at 10:45 a.m. ET.
- Wells Fargo’s TMT Summit on November 30, 2021, at 12:00 p.m. ET.
Live audio webcasts will be available on Bakkt's website, with replays accessible afterward.
Bakkt Holdings, Inc. (NYSE: BKKT) is enhancing its digital asset platform by introducing the ability for users to buy, sell, and send Ethereum (ETH). This new feature complements its existing Bitcoin services, allowing access to two major cryptocurrencies that represent over half of the total market value. The initiative comes amidst rising cryptocurrency adoption, with nearly half of U.S. consumers reportedly investing in cryptocurrencies recently. Bakkt's platform aims to boost digital commerce and provide flexible options for users to manage their digital assets.
Fiserv, a global leader in payments technology, has announced a strategic partnership with Bakkt, a digital asset platform. This collaboration will integrate Bakkt's capabilities into Fiserv's Carat ecosystem, enabling businesses to utilize digital assets for B2B and B2C transactions. The partnership aims to enhance consumer experiences by facilitating crypto transactions and integrating digital assets into merchant offerings, while providing Fiserv's financial institution clients with Bakkt's technology for managing crypto assets.
Mastercard (NYSE: MA) and Bakkt (NYSE: BKKT) have partnered to enhance cryptocurrency adoption among U.S. merchants, banks, and fintechs. This collaboration enables consumers to buy, sell, and hold cryptocurrencies, while also integrating crypto rewards into loyalty programs. Nearly half of U.S. consumers surveyed expressed interest in cryptocurrency, indicating growing demand. This initiative aims to provide dynamic digital asset solutions and improve customer experiences, aligning with Mastercard's commitment to innovation in the digital economy.
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