Bakkt

Digital Asset Infrastructurebakkt.com

Company typePublic
Founded2018
HeadquartersAtlanta, United States
Headcount51–100
GTM typeB2B
OfferingSoftware

Bakkt firmographics

Firmographics

Name: Bakkt
Legal name: Bakkt, Inc.
Website: https://bakkt.com
Company type: Public
Founded year: 2018
Operating status: Operating
Headcount range: 51–100 employees
Ownership category
akta.pro rank

Bakkt industry classification

Industry

Product category: Digital Asset Infrastructure
NAICS: Securities and Commodity Contracts Intermediation and Brokerage (5231)
SIC: Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
akta.pro primary industry: OTC Desks & Block Trading Networks (FSAPADAH)
akta.pro secondary industries: Digital Asset Custody & Wallet Infrastructure for Institutions (MPC/HSM, key mgmt, policy controls) (FSAPAIAE), Interoperability & Cross-Chain Infrastructure (Bridges, Messaging, Atomic Swaps) (FSAGAMAI), Brokerages & On/Off-Ramps (fiat rails, instant buy/sell) (FSAPADAG)

Keywords

Digital asset infrastructure
Stablecoin payment rails
Cryptocurrency custody services
Institutional trading platform
AI-driven finance orchestration

Where Bakkt is headquartered

Location

Headquarters

HQ city: Atlanta
HQ country: United States
HQ region: North America

Offices2 records

Markets served

Bakkt business model

Business model

GTM type: B2B
Offering type: Software
Cost components: Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

Trading & Transaction Fees: Spread/margin on crypto buy/sell conversions and transaction-based revenue from digital asset trading executed through Bakkt Markets and institutional-grade trading infrastructure. Underlying services include custody, trading, and settlement for 50+ digital assets.
Platform / API-as-a-Service (Bakkt Markets): Recurring platform revenue from financial institutions, brokers, and fintechs embedding Bakkt's regulated trading, custody, and yield infrastructure via single API — described as a turnkey, plug-and-play solution.
Money Transmission & Conversion Spread: Revenue from money transmission activities (50-state licensed) including spread/margin applied to virtual currency purchase/sale conversion prices quoted to customers, as disclosed in state-mandated risk disclosures.
Agent / Programmable Money & Cross-Border Payment Fees: Revenue from Bakkt Agent-enabled cross-border payments and programmable money movement across 36+ payout currencies and 10 blockchain networks; targets stablecoin-rails payment products and yield-bearing accounts.
Investment Gains & Strategic Asset Value Accretion: Income from Bakkt Global minority investments (e.g., Bitcoin Japan Corporation TSE:8105, Transchem Limited India warrants) including mark-to-market gains (2.8x on Bitcoin Japan, 4.7x on Transchem warrants) and potential recurring revenues from these holdings.
Licensing-as-a-Service / Authorized Agent Fees: Revenue from partners (e.g., Zoth, Nexo) operating under Bakkt Financial Solutions I, LLC's US regulatory umbrella as Authorized Agents, paying for access to the regulated counterparty framework.

Pricing tiers

Model	Billing	Price
Other	Pay-as-you-go	Quote-based / Not publicly disclosed enterprise pricing

Go-to-market motion4 records

Distribution channels5 records

Marketing channels6 records

Bakkt product offering

Product offering

Core offering

Bakkt builds and operates a regulated digital asset infrastructure platform composed of three engines: Bakkt Markets (institutional-grade custody, trading, and settlement for 50+ digital assets via single API under a 50-state US licensing footprint and New York BitLicense), Bakkt Agent (an AI-powered programmable money and finance layer built on an intelligent multi-agent swarm with MCP-server endpoint, supporting voice/chat/file inputs and multi-chain stablecoin rails across 10 blockchains and 36+ payout currencies), and Bakkt Global (international expansion through minority investments in AI, Bitcoin-treasury, and real-world asset tokenization). Customers are primarily financial institutions, fintechs, brokerages, and cross-border payment providers that need turnkey, licensed digital asset, stablecoin, and AI-driven finance infrastructure without building in-house.

Product overview

Bakkt operates a platform-plus-modules architecture organized into three core engines — Bakkt Markets (institutional-grade regulated trading and custody infrastructure with 50-state licensing and BitLicense), Bakkt Agent (an AI-powered programmable money and finance layer built on an intelligent multi-agent swarm accessible via MCP server, expected to launch Q3 2026), and Bakkt Global (international expansion through AI, Bitcoin-treasury, and RWA tokenization investments). These sit on top of Bakkt Core, which provides virtual accounts, global payment rails, and multi-chain stablecoin infrastructure. The platform is delivered through the regulated operating entity Bakkt Financial Solutions I, LLC (NMLS #1890144, BitLicense holder, FinCEN MSB), and is reinforced by the April 2026 acquisition of Distributed Technologies Research (DTR), whose AI-native agentic payments and stablecoin engine extend Bakkt's capabilities into 24/7 digital settlement and cross-border stablecoin payment corridors.

Differentiator

Problem solved

Functional benefit

Brands

Bakkt Markets: Institutional-grade digital asset trading, liquidity, and regulated custody platform with 50-state licensing footprint and a New York BitLicense; includes Bakkt Institutional and Bakkt f(x) services.
Bakkt Agent
Bakkt Global

Products and services

Bakkt Markets Turnkey, institutional-grade digital asset trading platform offering fully regulated, SOC 2-compliant infrastructure with 50+ listed assets, a 50-state licensing footprint, and a New York BitLicense. Enables fintechs, brokers, and financial institutions to embed custody, trading, settlement, yield, and reporting capabilities through a single API, eliminating in-house development. Includes Bakkt Institutional and Bakkt f(x) services.
Bakkt Agent AI-powered programmable money and finance platform that exposes Bakkt Core infrastructure (virtual accounts, global payment rails, multi-chain stablecoin support) through an intelligent multi-agent swarm via a single endpoint / MCP server. Supports voice, chat, and file-based interactions for launching payment products, high-yield accounts, and internal finance automation in hours, with built-in AML/KYC and SOC 2 compliance.
Bakkt Global International expansion catalyst, focused on AI investments, a Bitcoin-backed treasury, and real-world asset tokenization through minority investments in high-growth, liquid markets. Notable investments include Bitcoin Japan Corporation (Tokyo Stock Exchange: 8105) and Transchem Limited (India).
Distributed Technologies Research (DTR) Acquired by Bakkt on April 30, 2026, DTR provides global stablecoin payment infrastructure and an AI-native agentic payments engine. Its technology integrates with Bakkt's regulated institutional infrastructure to enable 24/7 digital settlement through stablecoins, supporting cross-border payment corridors across South Asia, MENA, and Sub-Saharan Africa. Powers the wallet-to-bank transfer service used by Oobit.

Quantifiable outcome

50-state US licensing footprint plus New York BitLicense (NMLS #1890144)
+6 more outcomes

Companies that use Bakkt

Customer profile

Named customers10 records

Segments5 records

Ideal customer profiles4 records

Bakkt technology and API

Technology

Technology focussed Yes

API detail

Has API: Yes
API docs
API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability15 records

Feature6 records

Bakkt partnerships and signals

Strategic signal

Partnerships

Eleven partnerships are on record, tiered flagship — primary international payments partner, core — dtr-powered distribution channel, flagship — first major us re-entry partnership under bakkt markets, flagship — strategic acquisition (now wholly owned), minor — partner logo, core — dtr-powered customer, core — new york market entry partner and core — custody infrastructure partner.

Zothflagship — primary international payments partnerStrategic or Co-development Partner · 7 May 2026MOU establishing a strategic partnership for compliant cross-border stablecoin payments across South Asia, MENA, and Sub-Saharan Africa. Zoth operates as an Authorized Agent within Bakkt Financial Solutions I, LLC's US licensing structure. Target: $1B annualized payment volume across USA-South Asia, USA-Philippines/Nigeria, USA-Middle East, UAE-South Asia corridors.
Oobit (Tether-backed)core — dtr-powered distribution channelChannel Partner/ Reseller/ Distributor · 24 February 2026Oobit's crypto-to-bank transfer service uses DTR infrastructure (now part of Bakkt) for fiat conversion and settlement across SEPA (Europe), ACH (US), and SPEI (Mexico). Tether is a notable backer of Oobit.
Nexoflagship — first major us re-entry partnership under bakkt marketsStrategic or Co-development Partner · 17 February 2026Nexo re-entered the US market in 2026 using Bakkt's US trading infrastructure, money transmitter licenses, and New York BitLicense. Bakkt provides regulated trading infrastructure and license coverage; Nexo layers yield, exchange, credit lines, and loyalty products for its end customers.
Distributed Technologies Research (DTR)flagship — strategic acquisition (now wholly owned)Technology or Integration · 12 January 2026Bakkt agreed to acquire DTR for ~9,128,682 Class A shares (31.5% of Bakkt share count) in a stock-for-stock deal, completed April 30, 2026, by issuing 11,316,775 shares (plus up to 725,592 additional). DTR's AI-native engine and stablecoin compliance stack power Bakkt's programmable money and 24/7 settlement layer; DTR CEO Akshay Naheta became Bakkt CEO.
Webullminor — partner logoChannel Partner/ Reseller/ Distributor · 1 January 2026Webull logo displayed on Bakkt's homepage partner wall, indicating a commercial/technology relationship.
Blockchain.comminor — partner logoChannel Partner/ Reseller/ Distributor · 1 January 2026Blockchain.com logo displayed on Bakkt's homepage partner wall, indicating a commercial/technology relationship.
Oobitcore — dtr-powered customerTechnology or Integration · 1 January 2026Tether-backed crypto payments app whose crypto-to-bank transfer service is powered by Distributed Technologies Research (DTR) infrastructure, now part of Bakkt. Supports SEPA, ACH, and SPEI.
Longbridgeminor — partner logoChannel Partner/ Reseller/ Distributor · 1 January 2026Longbridge logo displayed on Bakkt's homepage partner wall.
ascendEXminor — partner logoChannel Partner/ Reseller/ Distributor · 1 January 2026ascendEX logo displayed on Bakkt's homepage partner wall.
Swan Bitcoincore — new york market entry partnerChannel Partner/ Reseller/ Distributor · 3 November 2025Swan Bitcoin is now fully operational in New York, offering Bitcoin wealth management services (custody, trades, retirement accounts) leveraging Bakkt's infrastructure for compliance and operations.
Fireblockscore — custody infrastructure partnerTechnology or Integration · 9 October 2025Fireblocks Trust has signed Bakkt (along with Castle Island, Galaxy, and FalconX) as a digital asset custody client, providing custody technology services that complement Bakkt's regulated institutional offering.

Scale indicators16 records

Recent moves7 records

Expansion highlights6 records

Bakkt competitors and assessment

Company assessment

Direct peers

Ripple: Provider of cross-border payments infrastructure (RippleNet) and the RLUSD stablecoin. Directly comparable to Bakkt's stablecoin-powered cross-border payment corridors and Authorized Agent distribution model.
Galaxy Digital: Digital asset financial services platform spanning trading, asset management, and mining. Comparable to Bakkt in institutional crypto exposure and to Bakkt Global in international expansion via minority investments.
Circle: Issuer of USDC stablecoin and operator of regulated payment and treasury infrastructure. Direct competitor to Bakkt's stablecoin settlement and cross-border payment rails, and to Bakkt Agent's programmable money layer.
Paxos: Regulated stablecoin issuer (USDP, PYUSD) and digital asset custodian with NYDFS trust charter. Closely comparable to Bakkt Markets in regulated custody, tokenization, and stablecoin-as-a-service offerings.
Anchorage Digital: Federally chartered crypto bank providing institutional custody, trading, and stablecoin issuance. Comparable to Bakkt Markets in regulated institutional infrastructure and to Bakkt Global in international expansion (Anchorage Digital Singapore, etc.).
Coinbase: Largest US-regulated crypto exchange and institutional custody provider. Directly comparable to Bakkt Markets across institutional trading, custody, and staking; both compete for fintech and broker-dealer API integrations and have pursued stablecoin and payment-rail strategies.
Fireblocks: Institutional digital asset custody, settlement, and tokenization platform. Bakkt is both a partner and direct competitor in serving banks, brokerages, and fintechs with custody and transfer infrastructure; Fireblocks' custody stack competes head-to-head with Bakkt Markets.
BitGo: Institutional-grade digital asset custody and prime brokerage, listed as a Bakkt partner and competitor. Comparable across custody, staking, and trading infrastructure for institutions and fintechs.

Broad incumbents

Stripe (Bridge): Global payments platform that acquired Bridge to build stablecoin-rail infrastructure. Competes with Bakkt Agent in programmable money movement and with Bakkt's multi-chain stablecoin core on cross-border rails, but at vastly greater scale and with a much broader merchant base.
Robinhood: Retail brokerage with crypto trading, custody, and a developer API. Overlaps with Bakkt Markets for retail-facing brokers and fintechs but operates at much greater scale and with a broader product portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

Bakkt compliance and trust

Trust signal

Compliance6 records

Bakkt financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Bakkt leadership team

Management profile

Number of profiles

Profiles11 records

Bakkt subsidiaries and ownership

Company hierarchy

Subsidiaries5 records

Bakkt funding detail

Funding detail

Funding overview

Funding rounds7 records

Investors16 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Bakkt M&A and investment

M&A and investment

M&A5 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bakkt

What does Bakkt do?

Is Bakkt a public or private company?

Bakkt is a public company. It is classified as public and is currently operating.

When was Bakkt founded?

Bakkt was founded in 2018. It employs 51 to 100 people.

Where is Bakkt based?

Bakkt is headquartered in Atlanta, United States, in the North America region.

How does Bakkt make money?

Six revenue lines are on record. Trading & Transaction Fees are the primary driver. The others are platform / API-as-a-Service (Bakkt Markets), money Transmission & Conversion Spread, agent / Programmable Money & Cross-Border Payment Fees, investment Gains & Strategic Asset Value Accretion and licensing-as-a-Service / Authorized Agent Fees.

Who are Bakkt's main competitors?

Direct peers on record are Ripple, Galaxy Digital, Circle, Paxos, Anchorage Digital, Coinbase, Fireblocks and BitGo. Broad incumbents are Stripe (Bridge) and Robinhood.

Does Bakkt have an API?

Yes. Bakkt offers a single API for embedding digital asset functionality (trading, transfers, yield, reporting) into partner platforms, eliminating the need for multiple vendors. The Bakkt Agent product exposes its intelligent agent swarm through an MCP (Model Context Protocol) server, accepting voice, chat, and file uploads through one endpoint to give partners access to Bakkt Core infrastructure including virtual accounts, global payment rails, and multi-chain stablecoin infrastructure. Compliance features (AML/KYC) and SOC2-certified security are built in. Developer documentation is at bakkt.readme.io.

What industry is Bakkt in?

Bakkt's product category is Digital Asset Infrastructure. Its primary akta.pro industry code is FSAPADAH, OTC Desks & Block Trading Networks, with a secondary code of FSAPAIAE, Digital Asset Custody & Wallet Infrastructure for Institutions (MPC/HSM, key mgmt, policy controls). Its NAICS code is 5231 and its SIC code is 6200.