Bakkt Crypto Platform Acquires Bridge2 Solutions Loyalty Firm
After the transaction is closed, Bridge2 Solutions will take over the crypto division of ICE Bakkt. Bakkt will use the funds from the B-series financing round, during which it managed to raise $ 182.5 million. Bridge2 Solutions offers solutions for launching loyalty programs for trade and financial enterprises.
This is the third acquisition of its kind for Bakkt. She previously became the owner of Digital Asset Custody Company and Rosenthal Collins Group.
“Bakkt’s second round of fundraising and the acquisition of Bridge2 Solutions will help us accelerate the development of Bakkt’s consumer application, which has been a key part of our strategy since we first looked at this market,” said ICE CEO Jeffrey Sprecher.Bakkt leverages existing Bridge2 Solutions vendor relationships to develop its own products.
“By taking advantage of Bridge2 Solutions’s relationship with banks and merchants and their innovative Loyalty Pay solution, we will be able to launch new products that will help develop loyalty in the future and expand our customers’ ability to trade, transfer and spend digital assets,” said Bakkt CEO Mike Blandina.It is expected that the Bakkt consumer application, which will allow customers to pay with cryptocurrencies at partner points, will be launched in the first half of this year.
Alexey Shternshis
Pi Capital Union