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Bakkt Shares Surge 180% After Pacts With Mastercard, Fiserv for Crypto Payments
In true crypto fashion, two partnership announcements are causing BKKT to soar.
Bakkt (NYSE: BKKT) shares jumped about 180% Monday and reached a record high of $28 after the digital asset platform announced two partnerships. Mastercard and Bakkt said Monday morning that they’re working to allow consumers to buy, sell and hold digital assets through custodial wallets offered by Bakkt.
Meanwhile, a Bakkt partnership announced Monday afternoon with Fiserv will allow for similar capabilities, allowing for merchants to expand their crypto payment offerings.
STORY CONTINUES BELOW
Bakkt shares went live on the New York Stock Exchange on Oct. 18 after a SPAC deal that valued the company at about $2.1 billion. The firm’s current market capitalization is over $4 billion.
Read more: Mastercard Is Integrating Crypto Payments Through a New Partnership With Bakkt
Michael Bellusci
Michael Bellusci is a former CoinDesk crypto reporter. Previously he covered stocks for Bloomberg. He has no significant crypto holdings.
