Bakkt Holdings, the crypto assets management division of Intercontinental Exchange (ICE) – reportedly revealed its upcoming official listing for public trading on the New York Stock Exchange.
Specifically, the development for Bakkt to soon become a publicly traded entity is reportedly an outcome following a completed merger with VPC Impact Acquisition Holdings – a special purpose acquisition firm from Chicago.
ONE shareholder’s meeting related to the merger reportedly witnessed a rough 85.1% of the participants in favor of the business combination.
“Upon closing, the combined company’s Class A common stock and warrants are expected to begin trading on the New York Stock Exchange (“NYSE”) under the ticker symbols “BKKT” and “BKKT WS” respectively.”
Furthermore, the business combination consequently led to gross proceeds of around $448 million to Bakkt, which it intends to channel towards reinvestment in developing the firm’s capabilities and partnerships.
In October, Bakkt reportedly disclosed details regarding a freshly formed alliance with Google, to enable the acquisition of goods and services using Bitcoin (BTC) and different digital coins, through the Google Pay platform.
“[The partnership] is a testament to Bakkt’s strong position in the digital asset marketplace, to empower consumers to enjoy their digital assets in a real-time, secure, reliable manner.” Head of Bakkt – Gavin Michael – further remarked regarding the development.
In March this year, Bakkt reportedly introduced a payments app that makes it possible for users to complete purchases using crypto, prior to which the exchange offered BTC futures contracts exclusively to accredited investors.