Apex Crypto, a turnkey platform for fintech businesses to offer crypto investing to clients, has facilitated $12.5 billion in digital asset trades since its launch. Bakkt, a blockchain technology platform, has completed its acquisition of Apex Crypto for a total of $200 million in cash and stock. The move is expected to help Bakkt become a leading B2B2C crypto provider by advancing its crypto roadmap, unlocking new opportunities for next-generation consumers, and expanding into international markets through partners.
The acquisition will also bolster Bakkt’s path to profitability through product acceleration, revenue diversification, and cost synergies. Bakkt started out facilitating Bitcoin futures contracts for accredited investors and has since expanded into building crypto payments solutions and APIs. The company went public in October 2021 and has a market cap of $451 million.