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Bakkt appoints Akshay Naheta as co-CEO to advance stablecoin payment business.
According to Deep Tide TechFlow news on March 21, as reported by CoinDesk, the 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 the payment startup Distributed Technologies Research (DTR) founded by Naheta to explore new revenue sources.
Naheta has previously invested in companies such as Nvidia and ARM at SoftBank, and will officially join the Bakkt leadership team starting March 21, co-leading the company into the blockchain payment space alongside current CEO Andy Main. At the same time, Naheta will also join the Bakkt Board of Directors.
The core of this cooperation is the plan to integrate Bakkt's trading and brokerage platform with DTR's stablecoin-based payment infrastructure. According to the official press release, DTR's infrastructure utilizes a set of APIs, blockchain technology, and a proprietary routing system aimed at reducing the cost and complexity of payment solutions.