Crypto firm Bakkt today announced that it is going public on the New York Stock Exchange via a SPAC deal.
The firm has merged with VPC Impact Acquisition Holdings at a valuation of about $2.1 billion. VPC held its initial public offering in September 2020.
As part of the fresh development, Bakkt has also appointed new CEO Gavin Michael, a former Citi executive. Michael replaces former Bakkt interim CEO David Clifton, who will join the combined company’s board of directors.
Bakkt today also announced the targeted launch of its retail app, Bakkt Cash, in March of this year. Bakkt said over 400,000 consumers have signed up for early access to the app.
This is a developing story and will be updated…
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