Bitcoin News Today: Bakkt Sells Loyalty Business for $11M to Refocus on Crypto Infrastructure Amid 13% YoY Revenue Growth

Bakkt Holdings Inc. has announced a strategic realignment, selling its loyalty services business for $11 million to refocus its operations on crypto infrastructure and stablecoin payments. The transaction, slated to close in Q3 2025, transfers the loyalty segment to Project Labrador Holdco, LLC, a subsidiary of Roman DBDR Technology Advisors, Inc. This move underscores the company’s ambition to become a pure-play crypto services provider amid evolving regulatory clarity in the United States [1].

The sale follows preliminary Q2 2025 financial results showing total revenues between $577 million and $579 million, a year-over-year increase of at least 13%. Crypto services revenue grew by over 14%, highlighting robust demand for Bakkt’s offerings. Co-CEO Andy Main described the divestiture as a “milestone” enabling the company to “dedicate efforts to the immense opportunities in the stablecoin payments ecosystem.” Regulatory developments, including recent U.S. legislation, have bolstered investor confidence in stablecoin adoption, positioning Bakkt to leverage its infrastructure expertise in this expanding market [1].

To capitalize on the shift, Bakkt has also secured a $75 million public offering of Class A shares and pre-funded warrants. Proceeds will fund Bitcoin and digital asset acquisitions, as well as general corporate purposes. Co-CEO Akshay Naheta emphasized the capital’s role in expanding Bakkt’s crypto asset portfolio and strengthening its treasury strategy. However, the company’s share price fell nearly 5% during regular trading and dropped further in after-hours sessions, reflecting broader market volatility [1].

The strategic pivot includes integrating agentic AI solutions to enhance operational efficiency and customer experience in crypto and stablecoin services. This technological adoption aligns with Bakkt’s goal to streamline operations while addressing growing institutional demand for compliant digital payment solutions. The company’s focus on stablecoins—digital assets tied to fiat currencies for price stability—positions it to benefit from regulatory frameworks that reduce uncertainty for investors [1].

Analysts note that Bakkt’s decision to divest non-core assets reflects a broader industry trend toward specialization in crypto infrastructure. By narrowing its scope, the firm aims to strengthen its market position as a dedicated provider of regulated digital payment tools. The transaction also aligns with its recent financial performance, which shows resilience in core crypto services despite macroeconomic challenges.

The sale and capital raise represent a calculated response to market dynamics, with Bakkt seeking to consolidate resources while navigating regulatory and competitive pressures. Its emphasis on stablecoin infrastructure and AI-driven innovation could differentiate it in a crowded sector, though execution risks remain tied to execution speed and market sentiment.

Source: [1] Bakkt Considers Strategic Shift to Pure Crypto Focus Amid Loyalty Business Sale and Bitcoin Funding Plans (https://en.coinotag.com/bakkt-considers-strategic-shift-to-pure-crypto-focus-amid-loyalty-business-sale-and-bitcoin-funding-plans/)