Bakkt completes acquisition of stablecoin firm DTR

Digital asset company Bakkt announced it has completed its acquisition of stablecoin infrastructure provider DTR (Distributed Technologies Research). The all-stock transaction involved Bakkt issuing approximately 11.3 million shares to DTR. The CEO of Bakkt stated that the company will build a 24-hour digital payment layer by combining its AI-based payment engine with stablecoin technology, which he said will become a key infrastructure for connecting traditional finance and digital assets. The acquisition, first announced in January, was finalized on an expanded scale. The company's name was also changed to Bakkt Inc. at that time.