Bakkt announces completion of US $ 300 million Series B financing, Microsoft, Intercontinental Exchange, etc.

The original author was Mike Blandina, CEO of Bakkt, and the original article was posted on the official Bakkt Medium blog . Bakkt was founded in 2018 by the Intercontinental Exchange (ICE) and Microsoft, Starbucks, BCG and other companies. The company aims to create an open, seamless global network that enables investors, merchants, and consumers to buy, store, and pay for digital assets in a simple, efficient, and secure manner.

Bakkt announces completion of US $ 300 million Series B financing, Microsoft, Intercontinental Exchange, etc.

Bakkt was founded two years ago with a vision to build trust for institutions and consumers and unlock the value of digital assets. Since then, we have focused on realizing this vision. In 2019, we helped launch the first end-to-end regulated Bitcoin market and institutional Bitcoin custody products.

Today, we are pleased to announce that Bakkt has raised an additional $ 300 million in funding from investors including the NYSE parent company Intercontinental Exchange (ICE), Microsoft's M12 Investment Division, PayU, Boston Consulting Group, Goldfinch Partners , CMT Digital and Pantera Capital . We have also upgraded our website to bring more information about the Bakkt app scheduled for release this summer.

Bakkt announces completion of US $ 300 million Series B financing, Microsoft, Intercontinental Exchange, etc.

Register on the new Bakkt website for exclusive updates and early access

At Bakkt, we have conducted extensive research on digital assets. Digital assets include a variety of things including loyalty and reward points, in-game digital assets, merchant stored value, and cryptocurrencies, representing nearly $ 1 trillion in consumer spending power. Despite the size of this market, consumers find it difficult to acquire and track these digital assets, and are facing challenges in their use.

Bakkt gives users control over their digital assets. Whether it's miles for your favorite airline, loyalty points for your local grocery store, or you want to buy Bitcoin, the Bakkt app lets you aggregate all of these assets into one digital wallet. With just a few clicks, you can use these assets to shop at your favorite merchants, or send them to family and friends, or convert them into cash. We believe you have more value than you think, and we are ready to help you track, spend and send the digital assets you want.

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Unlock the value of digital assets with the Bakkt app

When the Bakkt app launched this summer, we had the potential to release nearly $ 1 trillion in digital assets, which made me very excited. With the completion of Series B funding and the recent acquisition of Bridge2 Solutions, Bakkt now has 350 employees and offers loyalty points redemption programs for 7 of 10 top financial institutions, and offers more than 4,500 loyalty and incentive programs , Including the two largest U.S. airlines. We have unique opportunities to leverage our technology, infrastructure and partners from all walks of life to bring innovative new products to market, thereby expanding our opportunities to enter the global economy.

Note: On January 1, 2019, Bakkt announced the completion of a $ 182 million Series A financing. Investors include Boston Consulting Group, CMT Digital, Eagle Seven, Galaxy Digital, Goldfinch Partners, Alan Howard, Horizons Ventures, Intercontinental Trading Firms, Microsoft Ventures, M12, Pantera Capital, Payu, FinTech of Naspers, and 12 institutions including Protocol Ventures