Today Bakkt, the offshoot of New York Stock Exchange owner ICE, announced it completed a $300 million Series B round. This follows a $182.5 million Series A at the end of 2018.
The latest investors include Intercontinental Exchange, Microsoft’s M12, PayU, Boston Consulting Group, Goldfinch Partners, CMT Digital and Pantera Capital.
To date, Bakkt is known for its Bitcoin options and futures, which have not attracted massive volumes. With a new focus on consumers, in the summer Bakkt plans to launch a consumer app, targeting use cases such as rewards, in-game assets as well as digital versions of merchant ‘value’ such as Starbucks cards.
This fits with the background of new CEO Mike Blandina who took over as CEO in December. He is the former VP of engineering at Paypal.
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