Bakkt Stock Surges 17% on New Stablecoin Payments Deal, Expanding Crypto Infrastructure

Shares of Bakkt Holdings, Inc. (BKKT), a leading cryptocurrency custody and trading infrastructure provider, soared over 17% following the announcement of a strategic new partnership aimed at deepening its stablecoin payments capabilities. The deal signifies Bakkt's intensified push into the digital asset payments ecosystem, leveraging stablecoins like USDC and USDT for more efficient transactions. This expansion into payment solutions is viewed as a key growth driver for the firm, enhancing its service portfolio beyond core custody and exchange functions. Market analysts highlight the move as a positive step towards mainstream adoption of crypto for everyday payments, boosting investor confidence in Bakkt's long-term strategy within the evolving digital finance landscape.