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Digital asset manager Bakkt Holdings, Inc., announced on Thursday that the company has acquired the firm Apex Crypto from Apex Fintech Solutions. Bakkt detailed that the acquisition of the turnkey crypto platform aims to \u201cbolster Bakkt\u2019s cryptocurrency product offering and expand its footprint into additional client verticals.\u201d<\/strong><\/p>\n On Nov. 3, 2022, Bakkt announced that the company has purchased a \u201cturnkey\u201d crypto-trading platform called Apex Crypto, a platform that offers trading solutions, custody, and more for a myriad of crypto assets. Bakkt acquired the firm from Apex Fintech Solutions (AFS) and Bakkt says it intends to continue its commercial relationship with AFS. The company believes that Apex Crypto will further enhance Bakkt\u2019s crypto offerings.<\/p>\n \u201cWe found a unique asset in Apex Crypto, which will expand our crypto client base, provide us with faster speed to market for new crypto capabilities and serve as an additional avenue for continued sales to a crypto-savvy audience through Apex Fintech Solutions,\u201d Gavin Michael, CEO of Bakkt said in a note sent to Bitcoin.com News. The CEO further noted that the acquisition makes it so Bakkt is poised to obtain more opportunities going forward.<\/p>\n The Bakkt executive added:<\/p>\n With the addition of this complementary business, we believe we are poised to be a crypto provider of choice for financial institutions, fintechs, merchants or loyalty programs that want to offer seamless crypto experiences to their customers. It\u2019s also expected to enable us to unlock more innovative opportunities that appeal to the next generation of consumers such as crypto rewards and NFTs.<\/p>\n<\/blockquote>\n Numerous reports<\/a> note that Bakkt acquired Apex Crypto for up to $200 million and under the terms of the transaction, Bakkt\u2019s crypto solutions will be available to \u201cApex\u2019s 220+ clients.\u201d Bakkt is a spin-off from Intercontinental Exchange, Inc., (ICE) and at first, Bakkt was dedicated to bitcoin (BTC<\/a>) services only. However, just over a year ago on Nov. 2, 2021, Bakkt announced<\/a> it would let customers buy, sell, and store ethereum (ETH<\/a>). The company also partnered<\/a> with Google \u201cto introduce digital assets to millions of consumers,\u201d the month prior in Oct. 2021.<\/p>\nBakkt to Expand Client Verticals With Different Offerings by Acquiring Apex Crypto<\/h2>\n
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