Bakkt Holdings, a leading provider of digital asset infrastructure, has announced a definitive agreement to acquire Distributed Technologies Research Ltd. (DTR), a specialist in global stablecoin payment systems. The move is set to bolster Bakkt's capabilities in stablecoin settlement and programmable payments, marking a significant step in its push toward next-generation financial technologies.

Under the terms of the deal, Bakkt will issue shares of its Class A common stock equivalent to 31.5% of the "Bakkt Share Number," as outlined in a prior cooperation agreement between the two companies filed with the U.S. Securities and Exchange Commission in March 2025. As of the announcement date, this translates to approximately 9,128,682 shares distributed to DTR shareholders, including DTR's CEO and founder, Akshay Naheta.

The exact number could adjust before closing, based on the agreement's provisions. Bakkt emphasized that the equity-based consideration aligns with DTR's strategic value, including its technology that is expected to speed up Bakkt's market entry for stablecoin services, minimize reliance on external providers, and open new revenue streams in payments and banking sectors.

The transaction's completion depends on standard conditions, such as regulatory clearances and approval from Bakkt's stockholders. It was reviewed and greenlit by an independent special committee of Bakkt's board, comprising directors Colleen Brown and Mike Alfred, to ensure fairness and strong governance.

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