all about cryptop referances
Digital asset manager Bakkt Holdings, Inc., announced Thursday that the company has acquired the firm Apex Crypto from Apex Fintech Solutions. Bakkt detailed that the acquisition of the turnkey crypto platform aims to “strengthen Bakkt’s offering of cryptocurrency products and expand its footprint into more client verticals.”
On November 3, 2022, Bakkt announced that the company has acquired a “turnkey” crypto trading platform called Apex Crypto, a platform that offers trading solutions, custody and more for a myriad of crypto assets. Bakkt acquired the firm from Apex Fintech Solutions (AFS) and Bakkt says it intends to continue its commercial relationship with AFS. The company believes that Apex Crypto will further enhance Bakkt’s crypto offering.
“We found a unique asset in Apex Crypto, which will expand our crypto client base, give us faster speed to market for new crypto features and serve as an additional avenue for continued sales to a crypto-savvy audience through Apex Fintech Solutions,” Gavin Michael, CEO director of Bakkt said in a memo sent to Bitcoin.com News. The CEO further noted that the acquisition means that Bakkt is ready for more opportunities in the future.
The Bakkt CEO added:
With the addition of this complementary business, we believe we are poised to be a crypto provider of choice for financial institutions, fintechs, merchants or loyalty programs looking to offer seamless crypto experiences to their customers. It is also expected to enable us to unlock more innovative opportunities that appeal to the next generation of consumers, such as crypto rewards and NFTs.
Numerous 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 initially Bakkt was dedicated only to bitcoin (BTC) services. However, just over a year ago on November 2, 2021, Bakkt announced that it would allow customers to buy, sell, and store ethereum (ETH). The company also partnered with Google “to introduce digital assets to millions of consumers,” the month before in October 2021.
What do you think about Bakkt buying Apex Crypto? Let us know what you think about this topic in the comments section below.
Image credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or an endorsement or recommendation of products, services or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on content, goods or services mentioned in this article.
