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Bakkt Completes DTR Acquisition to Build Stablecoin Settlement Layer
Bakkt completed its equity-based acquisition of Distributed Technologies Research by issuing more than 11.3 million shares to DTR holders. Bakkt CEO Akshay Naheta said the deal is designed to combine Bakkt’s institutional infrastructure with DTR’s AI payments engine and stablecoin technology to create a 24/7 digital settlement layer. The transaction terms allow for another 725,592 shares to be issued.