Bakkt Acquires Turnkey Platform Apex Crypto to Bolster Digital Asset Footprint – Bitcoin News

Bakkt Holdings, Inc., has announced that they have acquired Apex crypto from Apex Fintech Solutions. Bakkt detailed that the acquisition of the turnkey crypto platform aims to “bolster Bakkt’s cryptocurrency product offering and expand its footprint into additional client verticals.”

Acquiring Apex crypto allows Bakkt To Expand Their Client Bases with Different Offers

On Nov. 3, 2022, Bakkt announced that the company has purchased a “turnkey” crypto-trading platform called Apex Crypto, a platform that offers trading solutions, custody, and more for a myriad of crypto assets. Bakkt purchased the company from Apex Fintech Solutions, and Bakkt stated that it plans to maintain its commercial relationship. The company believes that Apex Crypto will further enhance Bakkt’s crypto offerings.

“We found a unique asset in Apex Crypto, which will expand our crypto client base, provide us with faster speed to market for new crypto capabilities and serve as an additional avenue for continued sales to a crypto-savvy audience through Apex Fintech Solutions,” Gavin Michael, CEO of Bakkt said in a note sent to News. Bakkt’s acquisition means that it is now poised for more opportunities in the future, said Gavin Michael, CEO of Bakkt.

Bakkt’s executive said:

This business is a complement to our existing one and we feel we have the potential to become a top crypto provider for merchants, financial institutions, banks, loyalty programs, and fintechs that offer seamless digital experiences to customers. It’s also expected to enable us to unlock more innovative opportunities that appeal to the next generation of consumers such as crypto rewards and NFTs.

Many reports note that Bakkt acquired Apex Crypto for up to $200 million and under the terms of the transaction, Bakkt’s crypto solutions will be available to “Apex’s 220+ clients.” Bakkt is a spin-off from Intercontinental Exchange, Inc., (ICE) and at first, Bakkt was dedicated to bitcoin (BTC) services only. Bakkt, which was founded in November 2, 2021, announced that customers would be able to buy, store, and sell ethereum (ETH) just one year earlier. The company also partnered with Google “to introduce digital assets to millions of consumers,” the month prior in Oct. 2021.

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AC, AFS Apex Crypto Apex Fintech Solution, Bakkt. Bakkt CEO Gavin Michael. Bakkt Crypto. Bitcoin (BTC), digital assets, Digital Currencies. Ethereum (ETH), Gavin Michael. Google. ICE. Intercontinental Exchange. NFTs. Rewards. Verticals.

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Jamie Redman

Jamie Redman is the News Lead for News. He also lives in Florida and works as a journalist covering financial technology. Redman joined the cryptocurrency community in 2011 and has been an active participant ever since. Since 2011, Redman has been an active member of the cryptocurrency community. Redman is a prolific writer for News, with over 6,000 articles on disruptive protocols.

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