Crypto trading platform Bakkt aims to go public through merger
The trading platform for Crypto Profit scam futures could go public through a merger.
Bakkt, a trading platform for crypto-futures that belongs to the operator of the New York Stock Exchange (NYSE), is to seek an IPO through a merger with VPC Impact Acquisition Holdings
This was reported by the business magazine Bloomberg on January 7th, citing anonymous sources who “are familiar with the matter”. According to these sources, the talks are already well advanced, which is why there could possibly be a notification of execution in the coming week.
The merger would create a company with a market value of over $ 2 billion
VPC is a holding company belonging to the influential investment firm Victory Park Capital. This in turn is registered with the US Securities and Exchange Commission and has the corresponding approval. John Martin, VPC’s CEO, said that VPC’s strategy is to “find financial technology companies that we can work with and help grow”.
Bakkt was again founded in 2019 as a trading platform for crypto futures that specializes in institutional investors. The unique selling point of the platform is that it offers a “physical” fulfillment of the Bitcoin futures traded. Last week, the Bakkt’s trading volume was $ 286 million.
The incumbent US Senator Kelly Loeffler, who lost the election for another term on Wednesday , was involved in founding the Bakkt as managing director.