Why Did Bakkt Shares More Than Triple Today?

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  • Mastercard Inc MA and Bakkt Holdings Inc BKKT collaborated to make it easier for merchants, banks, and fintech in the U.S. to embrace and offer a broad set of cryptocurrency solutions and services.
  • Consumers will experience expanded access to the digital asset ecosystem. Bakkt extends Mastercard's ecosystem of cryptocurrency partners, enabling Crypto-as-a-Service, which provides quick access to cryptocurrency capabilities. 
  • Mastercard partners will offer cryptocurrency solutions through the Mastercard network and Bakkt's digital asset platform.
  • "Together with Bakkt and grounded by our principled approach to innovation, we'll not only empower our partners to offer a dynamic mix of digital assets options but also deliver differentiated and relevant consumer experiences," Mastercard EVP Sherri Haymond said.
  •  "As brands and merchants look to appeal to younger consumers and their transaction preferences, these new offerings represent a unique opportunity to satisfy the increasing demand for crypto, payment and rewards flexibility," Bakkt EVP Nancy Gordon said.
  • Price Action: BKKT shares closed higher by 234.43% at $30.60 on Monday.
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