Bakkt Brings in $182 Million for Crypto Project

The Intercontinental Exchange’s (ICE) cryptocurrency project Bakkt concluded 2018 on a very strong note, managing to add as much as $182.5 million in private equity funds at the very end of the year. The company, which I listed on the New York Stock Exchange, has been established with the sole purpose of elaborating a new ambitious system, which will allow traders to use a blockchain and crypto-powered platform allowing them to heighten the security at trade exchanges. This way institutions will be bale to buy, sell and store their assets in a digital form, but more importantly -have an immediate access to them.

Venture capital is mandatory for every company that is looking to make sure that it will succeed. This is where Bakkt has decided to come in and use the financial power of others so that it can advance its own ideas.

However, this is not done in a selfish manner. The finance project of Bakkt cuts two ways – first it allows established companies to manage their own digital portfolios better, but it also enables investors to win big time from their share-buying. Investing in promising companies such as Bakkt is the way to manage one’s portfolio in the future.

This was Bakkt’s first funding round – not a token sale, with many private firms joining to provide funding for a promising initiative. Many companies pitched in, including: Horizons Ventures, Microsoft’s venture capital arm (M12), Pantera Capital, Naspers’ fintech arm (PayU), Protocol Ventures, Boston Consulting Group, CMT Digital, Eagle Seven, Galaxy Digital, Goldfinch Partners and more.

The company first hoped to conclude its funding round around November 2018. Following a brief deferment, the company then considered early 2019 as a far more likely timeline, but this has been quickly corrected by Bakkt’s efforts to always be a market leader. Bakkt also wants to release a token sale, which will allow many more investors to come and throw their financial support behind the company.

Meanwhile, the company has been already signing important deals with Bakkt, including Microsoft and Starbucks. Basically, the coffee chain has requested practical, trusted and regulated applications for consumers to convert their digital assets into U.S. dollars for use at Starbucks, according to the official release of Starbucks.

With so much cash added to the war chest of Bakkt, it’s quite possible to see new solutions emerge quite readily. $182.5 million in the coffers is sufficient funding to develop lucrative operations for many companies that are willing to contract Bakkt’s services.

This in turn will bring more capital for the company, which will allow it to establish itself on the market for longer. Bakkt has been doing quite well operating in very sensible context whereby billions of dollars could have been affected.

Bakkt has been interested in providing companies of all sizes and industries with reliable solutions to help them position their digital asset portfolio better and once again have a full, uninterrupted control over it.

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