Bakkt Appoints Akshay Naheta as Co-CEO and Partners with DTR
Bakkt Holdings (BKKT) appointed Akshay Naheta as co-CEO and formed a partnership with his startup, Distributed Technologies Research (DTR), to explore new revenue opportunities.
- Naheta, a former SoftBank executive, joins Bakkt's leadership and board today.
- The partnership aims to integrate Bakkt's trading platform with DTR's stablecoin payment infrastructure.
- DTR’s system utilizes APIs and blockchain technology to streamline costs and operations.
- This collaboration targets new revenue in crypto trading and cross-border payments, pending regulatory approvals.
- Bakkt's share price fell over 18% following the loss of contracts with Bank of America and Webull Pay.