Bakkt Completes Acquisition of Distributed Technologies Research, Issues 11,316,775 Shares

Bakkt has completed its acquisition of stablecoin infrastructure provider Distributed Technologies Research (DTR), a deal Bakkt says it first announced in January and that closed on April 30, 2026.

“Source: Bakkt As part of the deal, Bakkt issued more than 11”

Cointelegraph

In a GlobeNewswire release dated April 30, 2026, Bakkt said it “completed its previously announced acquisition of Distributed Technologies Research (‘DTR’), a developer of agentic payments and stablecoin infrastructure.”

Cointelegraph

The company said the acquisition “combines Bakkt’s regulated, institutional-grade infrastructure and nationwide licensing footprint with DTR’s AI-native engine and scalable compliance stack,” and that the combined platform is “purpose-built for institutions and fintechs.”

Bakkt also said the transaction is designed to establish “a 24/7 digital settlement layer that bypasses the friction of traditional correspondent banking.”

At closing, Bakkt issued an aggregate of 11,316,775 shares of its Class A Common Stock to the beneficial holders of DTR, and it said it “may issue up to an additional 725,592 shares” after the closing tied to warrants.

Multiple outlets described the same share issuance mechanics, with CryptoRank stating Bakkt issued “approximately 11.3 million shares to DTR” and WEEX saying Bakkt issued “over 11.3 million shares” and “may issue an additional 725,592 shares.”

The deal also came with a corporate name change, as both CryptoRank and Cointelegraph said Bakkt changed its name to “Bakkt Inc.” at the time of the transaction’s announcement and completion.

Bakkt and DTR’s combined pitch centers on changing how payments move by embedding stablecoin functionality into Bakkt’s core infrastructure.

In its GlobeNewswire statement, Bakkt said it is “embedding stablecoin capabilities directly into Bakkt’s core infrastructure,” and that this “is establishing a 24/7 digital settlement layer that bypasses the friction of traditional correspondent banking.”

Cryptonews.net

CryptoRank similarly framed the acquisition as a step toward “building a 24-hour digital payment layer,” describing it as operating “across time zones” and settling “transactions instantly.”

Cryptonews.net reported Bakkt CEO Akshay Naheta saying the deal aims to combine “Bakkt’s institutional infrastructure with DTR’s native artificial intelligence payments engine and stablecoin technology to create a 24/7 digital settlement layer.”

In the same vein, GlobeNewswire quoted Naheta: “The architecture of money movement rarely evolves at this level,” and it added that “This transaction accelerates the re-platforming of global financial infrastructure.”

GlobeNewswire also tied the strategy to a specific market size, saying Bakkt is “well positioned to capture a share of the more than $44 trillion cross-border payments market.”

TipRanks, while written as an investment-oriented piece, echoed the cross-border framing by saying the deal targets “the $44 trillion cross-border payments market” and that it merges “Bakkt’s regulated rails with DTR’s AI-native stack.”

Beyond the strategic narrative, the acquisition’s mechanics and corporate control shift are described in detail by multiple outlets.

“Bakkt Acquisition of DTR Finalized: Stablecoin Infrastructure Deal Reshapes Digital Payment Layer Share: BitcoinWorld Bakkt Acquisition of DTR Finalized: Stablecoin Infrastructure Deal Reshapes Digital Payment Layer Bakkt has completed its acquisition of stablecoin infrastructure provider DTR (Distributed Technologies Research)”

CryptoRank

GlobeNewswire said the acquisition closed under a “Share Purchase Agreement, dated as of January 11, 2026,” and it specified that the “Consideration Shares” were issued “pursuant to the terms of the Share Purchase Agreement.”

It also stated that “the Company issued an aggregate of 11,316,775 shares” and that Bakkt “may issue up to an additional 725,592 shares” after closing based on warrants outstanding as of the purchase agreement date.

Stock Titan added more granular structure, stating Bakkt issued “11,316,775 shares of Class A common stock as consideration” and that the deal structure is tied to “31.5% of Bakkt’s fully diluted equity (excluding warrants) before closing,” with an adjustment “using a $8.65 volume‑weighted average price.”

Stock Titan also reported a leadership outcome, saying “Following closing, CEO Akshay Naheta beneficially owns 11,127,563 shares, or about 22.3% of Bakkt’s securities,” and that “the transaction triggered a change in control for reporting purposes.”

TipRanks likewise described the share issuance as “11,316,775 Class A shares” with “potential for up to 725,592 additional shares tied to warrant exercises,” and it said the deal was executed “under a private placement exemption.”

Investing India (Investing.com) described the same core issuance numbers, saying Bakkt issued “11,316,775 shares of Class A Common Stock” and “may issue up to an additional 725,592 shares” related to outstanding warrants.

The sources also place the acquisition inside a broader timeline of announcements, regulatory steps, and market pressure on Bakkt’s stock.

CryptoRank described a sequence that began with “January 2024: Initial announcement of the acquisition,” followed by “March 2024: Regulatory review and shareholder approval process,” and then “June 2024: Finalization of the all-stock transaction.”

GlobeNewswire

Other outlets instead anchored the initial reveal to January 2026, with Investing India saying the transaction was “initially announced on January 11, 2026,” and GlobeNewswire referencing a “Share Purchase Agreement, dated as of January 11, 2026.”

Cointelegraph said the deal “was initially revealed in January and originally involved 9.3 million shares,” and it also said Bakkt’s share price “fell roughly 8% to $7.86 by Wednesday’s close, but recovered to $8.62 by Thursday’s market close.”

Cryptonews.net similarly said the deal was initially revealed in January and “originally involved 9.3 million shares,” and it reported Bakkt’s share price movement as well.

The acquisition’s closing date is consistent across the corporate release and the investment-focused coverage: TipRanks stated “Bakkt closed its all-stock acquisition of stablecoin infrastructure developer DTR on April 30, 2026,” and GlobeNewswire’s dateline is “ATLANTA, April 30, 2026.”

Investing India added that Bakkt faced stock pressure, saying shares had “declined 71.6% over the past six months,” and it cited Bakkt’s “market capitalization of $261.61 million.”

After the acquisition, the sources describe both forward-looking product ambitions and the financial/investor framing around execution and dilution.

“Bakkt completes acquisition of stablecoin developer DTR _Investing”

Investing India

GlobeNewswire said the acquisition is “creating a unified platform purpose-built for institutions and fintechs seeking simplicity, programmability, and global scale,” and it emphasized that “By embedding stablecoin capabilities directly into Bakkt’s core infrastructure,” the company is “establishing a 24/7 digital settlement layer.”

Stock Titan

CryptoRank said the combined company will integrate DTR’s stablecoin infrastructure into Bakkt’s platform and that it will roll out “new products in the coming months,” including “payment APIs for developers” and “white-label solutions for banks.”

TipRanks, while also promotional, stated that the deal “merges Bakkt’s regulated rails with DTR’s AI-native stack” and that it targets “the $44 trillion cross-border payments market,” and it also included an analyst-style framing that “BKKT is a Neutral” according to “Spark’s Take on BKKT Stock.”

It attributed that “score” to “weak financial performance (persistent losses, negative free cash flow, and a sharp 2025 revenue decline)” and said “execution and dilution risks remain high.”

Stock Titan highlighted the dilution risk directly by emphasizing “Substantial equity issuance and potential dilution” and by noting Bakkt “may issue up to an additional 725,592 shares” tied to warrants.

Cryptonews.net added a market context by stating “The global stablecoin market has grown to roughly $320 billion,” and it tied the acquisition to adoption by “banks and institutions.”