Bakkt (BKKT) said late Wednesday that it plans to enter into a commercial agreement with Distributed Technologies Research to integrate DTR's stablecoin-based payments technology infrastructure with Bakkt's crypto trading and brokerage technology.
The plan is subject to applicable regulatory approvals.
This partnership will be "positioned to unlock new revenue streams in crypto trading and stablecoin payments while adding efficiency to the vast and rapidly growing cross-border payments market," the company said.
In conjunction with this announcement, the company said DTR founder Akshay Naheta will join Bakkt as its co-chief executive officer alongside Andy Main, the current CEO.
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