Bakkt (NYSE:BKKT) is a digital asset platform that aims to bridge traditional finance and digital assets by offering institutional-grade custody, trading and settlement services. Established in 2018 by Intercontinental Exchange (ICE), the company initially made headlines with the launch of its physically settled Bitcoin futures contracts in 2019. Since then, Bakkt has expanded its product lineup to include spot trading of cryptocurrencies, a secure digital wallet for retail customers and a payment gateway that enables merchants to accept digital assets alongside fiat currencies.
The company’s core offering centers on its custody infrastructure, which is built to meet robust regulatory and security standards. Bakkt Custody provides segregation of client assets and carries insurance coverage against theft or loss, addressing a key concern for institutional investors and corporate treasuries. On the trading side, the Bakkt Digital Marketplace facilitates access to regulated spot markets and futures trading, designed to deliver liquidity and transparent price discovery.
Bakkt also operates a consumer-facing mobile application, which allows users to buy, sell and spend cryptocurrencies at participating merchants. The platform integrates with loyalty and rewards programs—most notably through a partnership with Starbucks—enabling users to convert digital assets into points or cash value that can be redeemed in everyday transactions. Beyond the U.S. market, Bakkt has signaled ambitions to expand into Asia and Europe, leveraging its ICE heritage to navigate regulatory frameworks in multiple jurisdictions.
Headquartered in Atlanta, Georgia, Bakkt is led by Chief Executive Officer Gavin Michael, who joined the company in March 2022 after serving in senior roles at Digital River and Dropbox. Under his direction, Bakkt continues to focus on product innovation and strategic partnerships aimed at increasing mainstream adoption of digital assets. The company’s governance includes a board with experience in financial technology, regulated exchanges and consumer payments, positioning it to capitalize on the evolving digital asset ecosystem.
