Bakkt Holdings, Inc., a US-based corporation listed on the New York Stock Exchange (NYSE) under the ticker symbol BKKT, has recently completed the Apex Crypto acquisition process and gained half a billion US dollars in cryptos under custody. The company has had a tumultuous past, incurring a loss of $2 billion in 2022 and had to undertake various measures, from restructuring to laying off some people and hiring new staff, to regain its reputation.

The acquisition of Apex Crypto, which has a user base of 5.8 million, is meant to accelerate the company's growth and strategy. With a $150 million fee, a $40 million bonus option, and 500 million crypto custody, the move will help Bakkt become the best B2B2C provider and exploit Apex’s integrated crypto trading.

Apex Crypto, although with a history of losses amounting to around $6 million, has recorded impressive trading volumes at $3 million, indicating a significant demand for its product. Moreover, with 30 clients, it has offered a tangible scale since its purchase.

Since its launch, Bakkt has been striving to provide a future for cryptocurrency and make it accessible to more users. As a result, bitcoin settled futures have been exchanged between customers. It is supported by the New York Stock Exchange’s parent company, ICE, which owns 66.6% of the stakes in Bakkt, which means they have high hopes that it will endure in the long run.

All in all, Bakkt's broadening of horizons through Apex Crypto acquisition, combined with its innovative product capabilities, have enabled it to become a major player in the cryptocurrency game and give users a secure platform to transact in digital monetary forms.



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