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Bakkt shares Spikes After Closing Partnership Deal With Mastercard and Fiserv

Bakkt is an Intercontinental Exchange-backed crypto services company. Recently, The shares spikes after unveiling partnership deals with two major global payments firms.

Furthermore, On Monday 25 Oct., Mastercard announces on Monday, 25th how it will stratus working with digital asset platform Bakkt. Of course, this is to enable its customers in the United States to buy, sell and hold digital assets.
Notably, the global payment provider Fiserv also announces a good deal with Bakkt to offer merchants digital asset services.

More so, The news causes a bullish day for BKKT, seeing over 50% increase. This is of course, outside of regular trading hours from Oct. 22’s closing price of $9.15, to 120% increase at $30.60.

Notably, Bakkt goes public on Oct. 18 via a Special Purpose Acquisition Company deal. Currently, Bakkt’s market capitalization is at over $4 billion.

Recall, In August 2018, Coinbase investor and New York Stock Exchange owner Intercontinental Exchange announces plans to launch a digital asset platform after Bakkt.

More so, Bakkt reveals its physically “deliverable” Bitcoin futures contracts for institutional investors the next year.

Lastly, After receiving criticism over their cash settled product design, Bakkt fully collateralized its daily futures contracts.

Additionally, The firm goes on to deploy a retail crypto asset payments app in April of this year. Then, its futures contracts sees a record volume earlier this month.

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