Bakkt Holdings is officially moving on from its loyalty business. The company just announced a deal to sell the entire segment for $11 million, with closing expected in Q3 2025.
The deal includes working capital adjustments, debt arrangements, and a short-term loan to make the transition smooth.
It marks the end of an era for Bakkt — and the start of a laser-focused crypto pivot.
Shedding Distractions to Double Down on Crypto
Why does this matter? Because it marks a strategic reset.
Bakkt is cleaning house, eliminating distractions to become a pure-play crypto infrastructure provider, with a focus on stablecoins and digital payments.
No more splitting attention between loyalty programs and blockchain tech — Bakkt is picking a lane.
Earlier this year, Bakkt had already hinted it would exit the loyalty business. The decision was further cemented when two major clients — Bank of America and Webull — chose not to renew their loyalty and crypto service agreements. That’s a major signal to rethink direction.
Stablecoins, Regulation, and Agentic AI
Bakkt’s co-CEO and president, Andy Main, called the sale a major milestone. The goal now?
Go all-in on stablecoins and crypto infrastructure — two areas experiencing major momentum, especially with U.S. regulators rolling out stablecoin laws just this month.
Meanwhile, co-CEO Akshay Naheta dropped hints about using agentic AI to enhance crypto and stablecoin functionality — alongside a new, more aggressive treasury strategy.
These smart tech and finance upgrades come at a critical time, as Bakkt works to stabilize its financial footing and climb out of a long share price slump since 2021.
Crypto Revenue Up, Public Offering Launched
Despite recent financial headwinds, Bakkt’s preliminary Q2 2025 results suggest a turnaround may be in motion.
The company estimates revenue between $577M and $579M , a 13% year-over-year increase. Crypto services alone rose 14%, showing clear momentum in their core business.
To fuel this shift, Bakkt has also launched a $75 million public offering. The funds are expected to go toward purchasing Bitcoin and other crypto assets, and covering broader corporate expenses.
In other words: Bakkt is ditching distractions , refreshing its playbook, and going full steam ahead into the future of crypto, stablecoins — and maybe a little AI-powered edge.
