Bakkt Appoints Akshay Naheta as Co-CEO, Partners with DTR to Advance Stablecoin Payments
Bakkt Holdings (BKKT) has named Akshay Naheta as co-CEO and entered into a strategic alliance with Distributed Technologies Research (DTR), a payments startup founded by Naheta, to drive innovation in stablecoin-powered transactions.
Naheta, a former SoftBank executive known for major investments in Nvidia and ARM, officially joins Bakkt’s leadership team today. Working alongside current CEO Andy Main, he will focus on expanding Bakkt’s role in blockchain-based financial services. Naheta has also been appointed to Bakkt’s board of directors.
A key element of this partnership is the integration of Bakkt’s crypto trading and brokerage services with DTR’s stablecoin payments infrastructure. According to the company’s statement, DTR’s technology leverages blockchain, APIs, and an intelligent routing system to enhance transaction efficiency and minimize costs.
Bakkt expects this collaboration to unlock new revenue streams in digital asset trading and cross-border payments, pending regulatory approvals.
The news follows a significant downturn in Bakkt’s stock price, which has fallen over 18% in the last three days amid reports that Bank of America (BAC) and Webull Pay will not be extending their agreements with the company.
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