Bakkt Holdings, the digital asset management arm of the Intercontinental Exchange (ICE), announced that it will soon be a publicly traded company on the New York Stock Exchange starting October 18.
The public listing of the Bakkt symbol is the result of a merger with VPC Impact Acquisition Holdings, a Chicago-based special purpose vehicle. According to an official statement, a shareholders’ meeting on the merger had about 85.1% approval of the business combination:
“On completion, the Combined Company’s Class A common stock and guarantors are expected to be traded on the New York Stock Exchange (” NYSE “) under the ticker symbols ‘BKKT’ and ‘BKKT WS’, respectively.
In addition, the business combination resulted in gross sales of approximately $ 448 million for Bakkt, which is expected to be reinvested in growing the company’s capabilities and partnerships.
Last week, the Bakkt cryptocurrency exchange announced a partnership with Google to enable the purchase of goods and services in Bitcoin (BTC) and other cryptocurrencies through the Google Pay platform. According to Bakkt’s CEO, Gavin Michael, the partnership “is testament to Bakkt’s strong position in the digital asset market to enable consumers to enjoy their digital assets in real time, safely and reliably.”
In March, Bakkt launched a payment app that allows users to make purchases using cryptocurrencies before the exchange offered BTC futures contracts exclusively to accredited investors.
The widespread adoption of cryptocurrencies in the United States is receiving increased support from lawmakers as a new bill calls for a safe haven for certain token projects.
A new bill proposed by North Carolina House Representative Patrick McHenry, “Clarity for the Digital Tokens Act of 2021,” proposes amending the Securities Act of 1933 that would allow projects to offer tokens without a register for up to three years.
The bill was based on an earlier initiative by the SEC commissioner to Hester Peirce emphasized that “Safe Harbor could be the most innovative development to date for the US cryptocurrency market”.