Digital asset supervisor Bakkt Holdings, Inc., introduced on Thursday that the corporate has acquired the agency Apex Crypto from Apex Fintech Options. Bakkt detailed that the acquisition of the turnkey crypto platform goals to “bolster Bakkt’s cryptocurrency product providing and develop its footprint into further shopper verticals.”
Bakkt to Broaden Shopper Verticals With Completely different Choices by Buying Apex Crypto
On Nov. 3, 2022, Bakkt introduced that the corporate has bought a “turnkey” crypto-trading platform referred to as Apex Crypto, a platform that provides buying and selling options, custody, and extra for a myriad of crypto property. Bakkt acquired the agency from Apex Fintech Options (AFS) and Bakkt says it intends to proceed its industrial relationship with AFS. The corporate believes that Apex Crypto will additional improve Bakkt’s crypto choices.
“We discovered a singular asset in Apex Crypto, which can develop our crypto shopper base, present us with sooner velocity to marketplace for new crypto capabilities and function an extra avenue for continued gross sales to a crypto-savvy viewers by means of Apex Fintech Options,” Gavin Michael, CEO of Bakkt stated in a observe despatched to Bitcoin.com Information. The CEO additional famous that the acquisition makes it so Bakkt is poised to acquire extra alternatives going ahead.
The Bakkt government added:
With the addition of this complementary enterprise, we consider we’re poised to be a crypto supplier of selection for monetary establishments, fintechs, retailers or loyalty applications that wish to supply seamless crypto experiences to their clients. It’s additionally anticipated to allow us to unlock extra revolutionary alternatives that attraction to the following era of customers equivalent to crypto rewards and NFTs.
Quite a few reports observe that Bakkt acquired Apex Crypto for as much as $200 million and beneath the phrases of the transaction, Bakkt’s crypto options can be out there to “Apex’s 220+ purchasers.” Bakkt is a spin-off from Intercontinental Change, Inc., (ICE) and at first, Bakkt was devoted to bitcoin (BTC) providers solely. Nevertheless, simply over a 12 months in the past on Nov. 2, 2021, Bakkt introduced it could let clients purchase, promote, and retailer ethereum (ETH). The corporate additionally partnered with Google “to introduce digital property to hundreds of thousands of customers,” the month prior in Oct. 2021.
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