TechFlow news, July 29 — According to CoinDesk, Nasdaq-listed Bakkt (BKKT) announced the sale of its loyalty business division for $11 million, marking a full transformation into a pure cryptocurrency infrastructure company.
The company has signed a definitive agreement with Project Labrador Holdco, a subsidiary of Roman DBDR Technology Advisors, with the transaction expected to close in the third quarter of 2025. The deal includes $11 million in cash, along with working capital and debt adjustments.
Andy Main, President and Co-CEO of Bakkt, said the divestiture of the loyalty business is a significant milestone in the company's evolution, signifying Bakkt’s transition into a streamlined cryptocurrency infrastructure company.
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