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Bakkt appoints new co-CEO as it moves forward with stablecoin payments plans
03-21 09:34

Odaily News Bakkt has appointed Akshay Naheta as co-CEO and has entered into a strategic partnership with Naheta’s payments startup Distributed Technologies Research (DTR). The move aims to integrate Bakkt’s trading and brokerage platform with DTR’s stablecoin-based payments infrastructure.
Through this integration, Bakkt plans to open up new revenue streams in the field of crypto trading and cross-border payments, subject to regulatory approval. Naheta, a former SoftBank executive with investment experience in Nvidia and ARM, officially joined the Bakkt leadership team today and will work with current CEO Andy Main to push the company's deep layout of blockchain payments. Naheta will also join the Bakkt board of directors.
Bakkt said that DTR's infrastructure helps reduce costs and complexity through APIs, blockchain technology and proprietary routing systems, thereby improving the efficiency of the payment system. This move will bring more profit opportunities to Bakkt.
However, Bakkt's stock price recently fell by more than 18% after it revealed that Bank of America (BAC) and crypto trading app Webull Pay would not renew their cooperation agreement. (Coindesk)

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Over the past 4 hours, the entire network has experienced a liquidation of over $100 million, mainly due to the collapse of long orders.
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Data: Corporate crypto asset reserves exceed $100 billion
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