Bakkt to Acquire Apex Crypto for up to USD 200M

US-based digital asset marketplace Bakkt has signed an agreement to acquire Integrated turnkey crypto investing platform Apex Crypto for USD 200 million.

The acquisition aims to expand Bakkt's cryptocurrency product offering and foster connections with additional client verticals such as fintechs, trading app platforms, and neo-banks.  

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Apex Crypto allows investors to transition between trading equities and cryptocurrency by offering efficient account opening and funding solutions. Furthermore, the Apex Crypto platform takes care of regulatory and licensing obligations associated with cryptocurrency investing while supporting a holistic user experience. 

As part of the transaction agreement, Bakkt and Apex Fintech Solutions will enter a commercial partnership that offers Bakkt crypto solutions to Apex's client base. The collaboration between these two companies is expected to create faster speed to market for crypto products. Bakkt officials revealed their hopes for the partnership to unlock more innovative opportunities that appeal to the next generation of consumers such as crypto rewards and NFTs.

(Source: The Paypers)