Bakkt To Focus On ‘Pure-Play Crypto’ With Loyalty Arm Sale
Crypto custody and trading firm Bakkt Holdings Inc. has sold its loyalty services business as it refocuses on being a “pure play crypto infrastructure company.”
Bakkt said on Monday that it agreed to sell its loyalty business, which allows its clients to offer travel and merchandise perks, for $11 million to Project Labrador Holdco, LLC, a subsidiary of the blank-check firm Roman DBDR Technology Advisors, Inc.
The deal is expected to close in the third quarter of 2025 and also includes accommodations for working capital, debt and a short-term cash loan to help with the transfer.
Bakkt added that the sale will allow it to “focus resources on the Company’s core crypto offerings and stablecoin payments infrastructure.”
Bakkt said…
