Bakkt Taps Akshay Naheta as Co-CEO to Spearhead Stablecoin Payment Strategy

Bakkt Brings in Akshay Naheta as Co-CEO, Teams Up with DTR to Boost Stablecoin Payment Solutions

Bakkt Holdings (BKKT) has appointed Akshay Naheta as co-CEO and announced a strategic partnership with his payments startup, Distributed Technologies Research (DTR), in a bid to strengthen its presence in blockchain-driven financial services.

Naheta, a former SoftBank executive with a history of investing in Nvidia and ARM, assumes his new leadership role today. Working alongside current CEO Andy Main, he will focus on expanding Bakkt’s stablecoin-based payment ecosystem and broader blockchain initiatives. He will also join the company’s board of directors.

As part of the partnership, Bakkt will integrate its trading and brokerage services with DTR’s stablecoin-powered payments infrastructure. A company release states that DTR’s blockchain-backed API network and smart routing system will improve payment efficiency while lowering costs.

Bakkt sees this collaboration as an opportunity to tap into new revenue channels across crypto trading and international remittances, pending regulatory approvals.

The announcement comes as Bakkt’s stock has tumbled over 18% in the past three days after revealing that Bank of America (BAC) and Webull Pay will not be renewing their agreements with the firm.

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