Bakkt, the NYSE-listed crypto and loyalty company, is spending up to $200 million to acquire Apex Crypto, which enables fintechs and trading apps to integrate cryptocurrency trading. Bakkt is a digital asset platform founded by NYSE owner ICE that combines crypto trading with loyalty, including integrating mainstream rewards programs.
Apex Crypto provides a turnkey solution targeted at fintechs so they can incorporate crypto into their offerings. The solution includes account opening, trading, and custody. It doesn’t yet offer staking or NFTs but plans to.
The $200 million deal includes $55 million in cash at closing and $45 million by the end of the year, subject to performance. An additional $100 million could be paid based on performance through 2025.
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