Bakkt appoints Akshay Naheta as co-CEO

Cryptocurrency company Bakkt Holdings (stock code: BKKT) announced the appointment of former SoftBank executive Akshay Naheta as co-CEO, and established a strategic partnership with Distributed Technologies Research (DTR), a payment startup founded by Naheta, to explore new sources of revenue.

Naheta, who has invested in companies such as Nvidia and ARM at SoftBank, will officially join the Bakkt leadership team from March 21st onwards, leading the company deeper into the blockchain payment field alongside current CEO Andy Main.

At the same time, Naheta will also join Bakkt's board of directors. The core of this collaboration is to integrate Bakkt's trading and brokerage platform with DTR's stablecoin-based payment infrastructure. According to an official press release, DTR's infrastructure uses a set of APIs, blockchain technology and proprietary routing systems aimed at reducing the cost and complexity of payment solutions.