Crypto infrastructure firm Bakkt is accelerating its push into stablecoin based payments after agreeing to acquire Distributed Technologies Research, a blockchain focused payments infrastructure provider. The deal marks a strategic shift toward building in house settlement and programmable payments capabilities as stablecoins gain traction as a global payments rail. Bakkt said the acquisition will be completed through the issuance of approximately 9.1 million shares of its Class A common stock, representing roughly a third of its current share count, subject to final adjustments before closing. Markets reacted positively to the announcement, with Bakkt shares rising sharply to their highest level in two months, reflecting investor confidence in the company’s move toward infrastructure driven revenue. The transaction remains subject to shareholder and regulatory approvals, but it signals Bakkt’s intent to reposition itself from a consumer facing crypto brand toward a backend payments and settlement provider.
Distributed Technologies Research operates a platform designed to support programmable digital payments, including cross border settlement using stablecoins. By acquiring the company, Bakkt aims to reduce its reliance on third party vendors while gaining direct control over critical payment infrastructure. The deal also includes a leadership transition, with DTR chief executive Akshay Naheta set to take over as Bakkt’s CEO following completion. Naheta previously worked in global technology investing before founding DTR, bringing payments and infrastructure experience to the role. Bakkt’s largest shareholder, Intercontinental Exchange, has agreed to support the transaction, providing additional stability to the approval process. Company representatives noted that no cash consideration has been finalized and that final terms could evolve prior to closing.
The acquisition highlights how stablecoins are increasingly viewed as financial infrastructure rather than speculative instruments. As adoption grows among institutions seeking faster and cheaper settlement, firms like Bakkt are positioning themselves as service providers that sit beneath wallets and consumer apps. Bakkt said the deal will support upcoming neobanking and payment services planned for launch later this year in partnership with multiple distribution channels. By consolidating settlement technology internally, the company expects to move faster in deploying new products while maintaining tighter control over compliance and operational risk. The move reflects a broader trend across the digital asset sector, where infrastructure focused firms are prioritizing stablecoin rails, programmability, and cross border functionality as core building blocks for the next phase of crypto adoption.
