Bakkt Holdings, the digital asset management arm of Intercontinental Exchange (ICE), has announced that it will soon become a listed company on the New York Stock Exchange starting October 18.
The public listing of the Bakkt ticker is the result of a merger with VPC Impact Acquisition Holdings, a Chicago-based special purpose acquisition company. According to an official statement, a shareholders’ meeting regarding the merger saw around 85.1% approval for the business combination:
“At Closing, the Class A common shares and warrants of the Combined Company are expected to begin trading on the New York Stock Exchange (” NYSE “) under the ticker symbols” BKKT “and” BKKT WS “respectively”
In addition, the business combination generated gross proceeds of approximately $ 448 million for Bakkt, which is expected to be reinvested in the development of the company’s capabilities and partnerships.
As recently as last week, Bakkt crypto exchange announced a partnership with Google to enable the purchase of goods and services using Bitcoin (BTC) and other cryptocurrencies through the Google Pay platform. . According to Bakkt CEO Gavin Michael, the partnership “demonstrates Bakkt’s strong position in the digital asset market, to enable consumers to enjoy their digital assets in real time, securely and reliably”.
In March, Bakkt launched a payments app that allows users to make purchases through cryptocurrencies, before which the exchange offered BTC futures exclusively to accredited investors.
Related: US lawmaker proposes safe harbor for digital tokens in new bill
The general public’s adoption of crypto in the United States is gaining increased support from lawmakers as a new bill requires a safe harbor for certain token projects.
A new bill proposed by North Carolina House Representative Patrick McHenry, “Clarity for Digital Tokens Act of 2021,” suggests amendment to the Securities Act of 1933 that allows projects to offer tokens without register for a maximum of three years.
The bill was based on an older initiative by SEC Commissioner Hester Peirce who pointed out that “the safe harbor may be the most revolutionary development for the US cryptocurrency market to date.”