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| Organization and Description of Business | Organization and Description of Business Bakkt Holdings, Inc. (“Bakkt” or the “Company”) provides software and application program interface products, services, and infrastructure to companies focused on digital asset transactions. Effective January 22, 2026, the Company changed its name to Bakkt, Inc. Unless the context otherwise provides, “we,” “us,” “our,” “Bakkt,” the “Company” and like terms refer to Bakkt, Inc. and its subsidiaries, including Bakkt Opco Holdings, LLC ("Opco"). Description of Business Bakkt provides, or is working to provide, simplified solutions focused in the following areas: Digital Assets •Trading. Bakkt’s platform provides customers with the ability to buy, sell and store digital assets via application programming interfaces or embedded web experience. The Company enables clients in various industries to provide their customers with the ability to transact in digital assets directly in their trusted environments. Bakkt currently facilitates transactions in the digital assets listed in the table below.
Stablecoin payments. Bakkt's platform enables the Company's customers to make cross border payments using stablecoin technology and fiat support while leveraging agentic tools powered by artificial intelligence. Custody. Bakkt Financial Solutions I, LLC ("BFS") uses third-party custodial relationships with BitGo and Coinbase Custody and Fireblocks Trust, which are currently used by BFS for custody and coin transfers and also self-custodies select coins to facilitate consumer withdrawals. BFS holds a New York State virtual currency license (commonly referred to as a "BitLicense"), and money transmitter licenses from all states throughout the United States (“U.S.”) where such licenses are required for the operation of its business and is registered as a money services business with the Financial Crimes Enforcement Network of the United States Department of the Treasury. As of March 31, 2026, the Company offered digital asset services in the U.S., Latin America, Europe, and Asia.
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