Digital asset platform Bakkt Holdings (BKKT) said it will acquire crypto trading infrastructure company Apex Crypto from Apex Fintech Solutions. Bakkt will initially pay $55 million in cash upon closing and up to $145 million in Bakkt stock and senior notes upon achieving certain financial targets. The transaction will provide revenue diversification and synergies for Bakkt and help the company expand its crypto customer base. The acquisition is subject to regulatory approval.
Apex Crypto was launched in 2019 and aims to allow investors to switch between trading stocks and cryptocurrencies by providing efficient account opening and financing solutions. (Business Wire)