Bakkt Raises $300M Collection B From Microsoft, Pantera

Bakkt Raises $300M Collection B From Microsoft, Pantera

Crypto derivatives supplier Bakkt closed a $300 million Collection B fundraising spherical and shared extra particulars about its upcoming cellular

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Crypto derivatives supplier Bakkt closed a $300 million Collection B fundraising spherical and shared extra particulars about its upcoming cellular software in a weblog submit Monday.

In response to the submit, authored by CEO Mike Blandina, Microsoft’s M12, PayU, Boston Consulting Group, Goldfinch Companions, CMT Digital, Pantera Capital and Bakkt father or mother agency Intercontinental Alternate (ICE) all participated within the funding spherical.

Blandina additionally referenced Bakkt’s acquisition of Bridge2 Options, a loyalty providers supplier first introduced in February 2020. Bakkt, which centered on launching bitcoin futures and choices contracts with its father or mother agency ICE over the primary yr of operations, introduced in October it could be focusing on a retail clientele with a consumer-focused app.

The corporate plans to launch the app by the summer time, Blandina stated Monday.

“I’m excited at our potential to unlock practically $1 trillion of digital property when the Bakkt app launches this summer time,” Blandina wrote. “With the completion of our Collection B financing and up to date acquisition of Bridge2 Options, Bakkt is now a group of 350 workers and powers the loyalty redemption packages for 7 of the highest 10 monetary establishments and over 4,500 loyalty and incentive packages together with two of the most important US airways.”

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