TechFlow news — Digital asset platform Bakkt has completed its acquisition of Apex Crypto, paying $55 million in cash and $100 million in stock.
Bakkt first announced the acquisition of Apex Crypto in November 2022, but the deal was pending approval from the New York Department of Financial Services.
Through the acquisition, Bakkt will gain nearly 6 million crypto accounts, 30 enterprise clients, and $12.5 billion in crypto trading volume. Additionally, Apex will help Bakkt expand into overseas markets, and the company aims to achieve positive EBITDA by 2024.
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