Bakkt, the arm of the ICE, made an announcement today stating it has completed their partnership deal with Victory Park Capital. As a result, the company will publicly get traded on NYSE (New York Stock Exchange).
The NYSE, also known as The Big Board, is a stock exchange based in America. Additionally, it is considerably the largest stock exchange in terms of Market cap( it has a market capitalization of over $30 trillion).
Bakkt’s trading on the New York stock exchange will commence on the eighteenth of October this year.
Recently, The Chief Executive Officer (CEO) of Bakkt made special remarks stating that the partnership will give his company the startup necessary to keep doing more innovative work.
In addition, Gavin said that Bakkt expects to propel its expansion goals and achieve its mission, which is connecting the digital economy. Bakkt should also continue expanding digital assets hence capture and keep pace with companies at the forefront across different industries.
The Chair of VPC, John ,also gave a statement saying that his company is happy to see Bakkt Holdings LLC succeeding.
Additionally, John stated that other than a compelling value proposition, Bakkt has a one-of-a-kind team managing it. Also, it is in an excellent position to make long-term stakeholder value.
This partnership saw the partners use a total of four hundred and forty-eight million U.S Dollars in gross proceeds.
These proceeds, in turn, will finance the company’s investment and marketing efforts. In addition, they will also speed up present and future partnerships that will lead to significant growth of the business.
Partership with Google
Less than a week ago, Bakkt gave a statement revealing that they are partnering with Google for payment services. According to the digital marketplace, users can now buy products & services with BTC & other crypto through Google pay. Besides expanding Loyalty redeeming options, Bakkt aims to give its partners Valued consumer behavioral patterns.
This announcement comes a week after Patrick McHenry proposed an amendment bill on one of the laws governing the SEC (Securities Exchange Commision). According to Peirce, a commissioner of the SEC, the proposed legislation would be a major step for the US’s Crypto Market.
About Bakkt and VPC(Victory Park Capital).
Bakkt is a trusted marketplace of digital assets allowing users to buy, vend, store and even spend these tokens.
Founded in 2018, Bakkt recently launched an application that enables the availability of its retail platform. This platform then projects the spending of its consumers.
In addition, this retail platform supports loyalty programs adding value for main stakers. Notably, these stakeholders are found within the company’s payment and Crypto ecosystem.
The intercontinental exchange Inc. (ICE) launched Bakkt which has its headquarters in Alpharetta.
Finally, Victory Park Capital(VPC) is a private investment advisor held & registered by the US regulatory agency SEC.
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