Crypto derivatives supplier Bakkt closed a $300 million Collection B fundraising spherical and shared further particulars about its upcoming cellular utility in a weblog publish Monday.
In response to the publish, authored by CEO Mike Blandina, Microsoft’s M12, PayU, Boston Consulting Group, Goldfinch Companions, CMT Digital, Pantera Capital and Bakkt guardian agency Intercontinental Change (ICE) all participated within the funding spherical.
Blandina additionally referenced Bakkt’s acquisition of Bridge2 Options, a loyalty companies supplier first introduced in February 2020. Bakkt, which centered on launching bitcoin futures and choices contracts with its guardian agency ICE over the primary 12 months of operations, introduced in October it will be focusing on a retail clientele with a consumer-focused app.
The corporate plans to launch the app by the summer time, Blandina mentioned Monday.
“I’m excited at our potential to unlock practically $1 trillion of digital belongings 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 crew of 350 staff and powers the loyalty redemption applications for 7 of the highest 10 monetary establishments and over 4,500 loyalty and incentive applications together with two of the biggest US airways.”
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