Bakkt Acquires Turnkey Platform Apex Crypto to Bolster Digital Asset Footprint

Digital plus manager Bakkt Holdings, Inc., announced connected Thursday that the institution has acquired the steadfast Apex Crypto from Apex Fintech Solutions. Bakkt elaborate that the acquisition of the turnkey crypto level aims to “bolster Bakkt’s cryptocurrency merchandise offering and grow its footprint into further lawsuit verticals.”

Bakkt to Expand Client Verticals With Different Offerings by Acquiring Apex Crypto

On Nov. 3, 2022, Bakkt announced that the institution has purchased a “turnkey” crypto-trading level called Apex Crypto, a level that offers trading solutions, custody, and much for a myriad of crypto assets. Bakkt acquired the steadfast from Apex Fintech Solutions (AFS) and Bakkt says it intends to proceed its commercialized narration with AFS. The institution believes that Apex Crypto volition further heighten Bakkt’s crypto offerings.

“We recovered a unsocial plus successful Apex Crypto, which volition grow our crypto lawsuit base, supply america with faster velocity to marketplace for caller crypto capabilities and service arsenic an further avenue for continued income to a crypto-savvy assemblage done Apex Fintech Solutions,” Gavin Michael, CEO of Bakkt said successful a enactment sent to Bitcoin.com News. The CEO further noted that the acquisition makes it truthful Bakkt is poised to get much opportunities going forward.

The Bakkt enforcement added:

With the summation of this complementary business, we judge we are poised to beryllium a crypto supplier of prime for fiscal institutions, fintechs, merchants oregon loyalty programs that privation to connection seamless crypto experiences to their customers. It’s besides expected to alteration america to unlock much innovative opportunities that entreaty to the adjacent procreation of consumers specified arsenic crypto rewards and NFTs.

Numerous reports enactment that Bakkt acquired Apex Crypto for up to $200 cardinal and nether the presumption of the transaction, Bakkt’s crypto solutions volition beryllium disposable to “Apex’s 220+ clients.” Bakkt is simply a spin-off from Intercontinental Exchange, Inc., (ICE) and astatine first, Bakkt was dedicated to bitcoin (BTC) services only. However, conscionable implicit a twelvemonth agone connected Nov. 2, 2021, Bakkt announced it would fto customers buy, sell, and store ethereum (ETH). The institution besides partnered with Google “to present integer assets to millions of consumers,” the period anterior successful Oct. 2021.

What bash you deliberation astir Bakkt acquiring Apex Crypto? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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