Bakkt Shifts to Pure-Play Crypto Infrastructure After $11M Loyalty Business Sale
Bakkt Holdings Inc. has announced a strategic repositioning as a pure-play cryptocurrency infrastructure company following the sale of its loyalty business for $11 million, as detailed in a SEC filing [1]. The move marks a decisive shift from its previous diversified business model, with the company now prioritizing the development of platforms for cryptocurrency trading, custody, and tokenization. Concurrently, Bakkt plans to raise capital through a public share offering, underscoring its commitment to scaling operations in the digital asset sector. This transformation aligns with growing institutional and retail demand for crypto services, as well as broader industry trends toward specialization.
The sale of the loyalty business,…
