Bakkt completes acquisition of stablecoin payment company DTR

CoinFeed reported on May 1st that, according to Cointelegraph, digital asset company Bakkt has completed its acquisition of stablecoin infrastructure company Distributed Technologies Research (DTR) through an equity transaction involving the issuance of over 11.3 million shares (with a possible additional approximately 726,000 shares). Bakkt's CEO stated that the transaction aims to combine Bakkt's institutional infrastructure with DTR's AI payment engine and stablecoin technology to create a 24/7 digital settlement layer. Bakkt previously announced the transaction in January, simultaneously announcing a name change to Bakkt Inc.