Bakkt Completes DTR Acquisition Amid Revenue Growth and Strategic Overhaul

Modernizing Global Settlement

Bakkt Inc. has finalized its acquisition of Distributed Technologies Research (DTR), a developer of agentic payments and stablecoin infrastructure, astir 3 months aft formally agreeing to the purchase. The determination follows a transformative 3rd 4th successful which the institution reported $402.2 cardinal successful GAAP revenue—a 27% year-over-year increase—and completed a large structural overhaul.

The woody combines Bakkt’s regulated, institutional-grade infrastructure and nationwide licensing footprint with DTR’s AI-native motor and compliance stack. By embedding stablecoin capabilities straight into its halfway infrastructure, Bakkt is positioning itself to present a 24/7 integer colony furniture that bypasses the friction of accepted analogous banking.

“The architecture of wealth question seldom evolves astatine this level,” said Akshay Naheta, CEO of Bakkt. “This transaction accelerates the re-platforming of planetary fiscal infrastructure. By afloat integrating DTR’s technology, we are introducing stablecoin functionality arsenic a captious span betwixt bequest fiscal systems and the adjacent procreation of integer assets.”

The acquisition is the cornerstone of Bakkt’s caller strategy, which revolves astir 3 concern lines: Bakkt Markets, Bakkt Agent (the AI-driven stablecoin level powered by DTR) and Bakkt Global. This streamlined attack follows the Oct. 1 merchantability of the company’s noncore loyalty concern and the collapsing of its Up-C operation to simplify governance into a azygous stock class.

Financially, Bakkt ended the 3rd 4th debt-free with $64.4 cardinal successful cash. While the institution reported a nett nonaccomplishment of $23.2 million, its adjusted EBITDA climbed 241% to $28.7 million, signaling that the company’s operational “reset” is yielding results.

At closing, Bakkt issued 11,316,775 shares of its Class A communal banal to DTR’s beneficial holders nether the presumption of a Jan. 11, 2026, stock acquisition agreement. The institution whitethorn contented up to an further 725,592 shares tied to outstanding warrants, depending connected aboriginal conversions. To enactment this caller direction, Bakkt has besides strengthened its leadership, precocious appointing Richard Galvin, Mike Alfred, and Lyn Alden to its committee of directors.

Further details of the transaction and stock issuance volition beryllium disclosed successful Bakkt’s Form 8-K filing with the U.S. Securities and Exchange Commission (SEC) connected April 30, 2026. The institution plans to outline the adjacent signifier of this maturation strategy astatine its upcoming Investor Day successful aboriginal 2026.