Today the cryptocurrency exchange Bakkt, announced its first acquisition of shares from Rosenthal Collins Group, a futures commissions merchant with over 100 years of experience. Bakkt, owned by the Intercontinental Exchange (ICE), is an institutional-grade exchange and a custody solution for the physical delivery of digital assets. Their mission is to bring digital assets into the mainstream by enabling efficient transactions between consumers and merchants. Recently, they announced that their first round of investments was successfully completed, raising a total of $182 million.
We have entered into an agreement to acquire certain assets of Rosenthal Collins Group (RCG), an independent futures commission merchant with nearly 100 years of earning clients’ trust.Kelly Loeffler, Bakkt CEO
As part of this business deal, their aim is to purchase certain valuable assets related to developing their platform. The transaction will be finalized in February, and some members of the RCG team will join Bakkt. This deal will enhance the risk management and the treasury operations with systems and expertise. It will also contribute to their regulatory, AML/KYC and customer service operations as they help to enable digital asset acceptance by bringing more choice and control to buyers and sellers.