Distributed Technologies Research Acquired by Bakkt | Financial Services M&A Deal

Bakkt has completed the acquisition of Distributed Technologies Research, a payments processing business in the financial services sector, for $402.2 million. Bakkt acquires Distributed Technologies Research to integrate AI-native stablecoin infrastructure and an agentic payments engine into its regulated, institutional-grade settlement platform. Distributed Technologies Research provides a compliance stack and stablecoin technology designed to support 24/7 digital settlement and reduce reliance on traditional correspondent banking. The strategic acquisition is part of Bakkt acquisitions and financial services M&A strategy, following a prior agreement signed about three months earlier, with Bakkt issuing 11,316,775 Class A shares at closing and potentially issuing up to 725,592 additional shares tied to warrants.