Digital asset supervisor Bakkt Holdings, Inc., introduced on Thursday that the corporate has acquired the agency Apex Crypto from Apex Fintech Options. Bakkt detailed that the acquisition of the turnkey crypto platform goals to “bolster Bakkt’s cryptocurrency product providing and develop its footprint into further consumer verticals.”
Bakkt to Develop Shopper Verticals With Completely different Choices by Buying Apex Crypto
On Nov. 3, 2022, Bakkt introduced that the corporate has bought a “turnkey” crypto-trading platform referred to as Apex Crypto, a platform that gives buying and selling options, custody, and extra for a myriad of crypto property. Bakkt acquired the agency from Apex Fintech Options (AFS) and Bakkt says it intends to proceed its business relationship with AFS. The corporate believes that Apex Crypto will additional improve Bakkt’s crypto choices.
“We discovered a singular asset in Apex Crypto, which can develop our crypto consumer base, present us with sooner velocity to marketplace for new crypto capabilities and function an extra avenue for continued gross sales to a crypto-savvy viewers by Apex Fintech Options,” Gavin Michael, CEO of Bakkt mentioned in a be aware despatched to Bitcoin.com Information. The CEO additional famous that the acquisition makes it so Bakkt is poised to acquire extra alternatives going ahead.
The Bakkt govt added:
With the addition of this complementary enterprise, we consider we’re poised to be a crypto supplier of alternative for monetary establishments, fintechs, retailers or loyalty packages that need to provide seamless crypto experiences to their clients. It’s additionally anticipated to allow us to unlock extra revolutionary alternatives that attraction to the subsequent era of customers resembling crypto rewards and NFTs.
Quite a few stories be aware that Bakkt acquired Apex Crypto for as much as $200 million and below the phrases of the transaction, Bakkt’s crypto options might be out there to “Apex’s 220+ shoppers.” Bakkt is a spin-off from Intercontinental Change, Inc., (ICE) and at first, Bakkt was devoted to bitcoin (BTC) companies solely. Nevertheless, simply over a yr in the past on Nov. 2, 2021, Bakkt introduced it might let clients purchase, promote, and retailer ethereum (ETH). The corporate additionally partnered with Google “to introduce digital property to tens of millions of customers,” the month prior in Oct. 2021.
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