Bakkt Holdings, the digital asset management arm of the Intercontinental Exchange (ICE), announced that it will soon become a publicly traded company on the New York Stock Exchange effective October 18.
Bakkt ticker's public listing comes as a result of a merger with VPC Impact Acquisition Holdings, a Chicago-based special purpose acquisition company. According to a Official statement, a shareholders meeting on the merger obtained approximately 85.1% approval for the business combination:
"At closing, Class A common shares and warrants of the combined company are expected to begin trading on the New York Stock Exchange (" NYSE ") under the ticker symbols" BKKT "and" BKKT WS "respectively."
Additionally, the business combination resulted in gross revenue of approximately $ 448 million for Bakkt, which is planned to be reinvested in the growth of the company's capabilities and partnerships.
Last week, the Bakkt crypto exchange was announced a partnership with Google to enable the purchase of goods and services that use Bitcoin (BTC) and other cryptocurrencies through the Google Pay platform. According to Bakkt CEO Gavin Michael, the partnership "is a testament to Bakkt's strong position in the digital asset market, so that consumers can enjoy their digital assets in real time, safely and reliably."
In March, Bakkt launched a payments app that allows users to make purchases through cryptocurrencies, before which it offered the exchange. BTC futures contracts exclusively for accredited investors.
Related: US lawmaker proposes safe harbor for digital tokens in new bill
The widespread adoption of crypto in the United States sees increased support from lawmakers as a new bill calls for a safe harbor for certain token projects.
A new bill proposed by North Carolina House Representative Patrick McHenry, "Digital Token Clarity Act of 2021" suggests the amendment to the Securities Act of 1933 that allows projects to offer tokens without registering for up to three years.
The bill built on an earlier initiative by SEC Commissioner Hester Peirce, in which she highlighted that "safe harbor could be the most innovative development for the US cryptocurrency market to date."
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