Bakkt appoints new co-CEO as it moves forward with stablecoin payments plans

2025-03-21 09:34

Odaily News Bakkt has appointed Akshay Naheta as co-CEO and has entered into a strategic partnership with Naheta’s payments startup Distributed Technologies Research (DTR). The move aims to integrate Bakkt’s trading and brokerage platform with DTR’s stablecoin-based payments infrastructure.
Through this integration, Bakkt plans to open up new revenue streams in the field of crypto trading and cross-border payments, subject to regulatory approval. Naheta, a former SoftBank executive with investment experience in Nvidia and ARM, officially joined the Bakkt leadership team today and will work with current CEO Andy Main to push the company's deep layout of blockchain payments. Naheta will also join the Bakkt board of directors.
Bakkt said that DTR's infrastructure helps reduce costs and complexity through APIs, blockchain technology and proprietary routing systems, thereby improving the efficiency of the payment system. This move will bring more profit opportunities to Bakkt.
However, Bakkt's stock price recently fell by more than 18% after it revealed that Bank of America (BAC) and crypto trading app Webull Pay would not renew their cooperation agreement. (Coindesk)

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Bakkt appoints new co-CEO as it moves forward with stablecoin payments plans

Lessons learned from the $180 million investment: The current entry point for Web3 is not social networking, but the wallet.

Zeus unveiled its institutional-grade MPC infrastructure roadmap at Solana Breakpoint 2025, unlocking Bitcoin&#39;s access to the Solana on-chain capital market.

USDT rating controversy: S&amp;P&#39;s &quot;stability yardstick,&quot; Tether&#39;s &quot;market debate,&quot; and the transformation into a &quot;shadow central bank.&quot;

Gate Research: BTCFi diffusion drives Starknet&#39;s upward surge; high-performance L1 and on-chain finance narrative gain momentum.

Zeus unveiled its institutional-grade MPC infrastructure roadmap at Solana Breakpoint 2025, unlocking Bitcoin's access to the Solana on-chain capital market.

USDT rating controversy: S&P's "stability yardstick," Tether's "market debate," and the transformation into a "shadow central bank."

Gate Research: BTCFi diffusion drives Starknet's upward surge; high-performance L1 and on-chain finance narrative gain momentum.