Bakkt Shares Surge 180% After Pacts With Mastercard, Fiserv for Crypto Payments

In true crypto fashion, two partnership announcements are causing BKKT to soar.

Oct 25, 2021 at 6:58 p.m. UTC
Updated Oct 25, 2021 at 8:21 p.m. UTC

Bakkt (NYSE: BKKT) shares jumped about 180% Monday and reached a record high of $28 after the digital asset platform announced two partnerships. Mastercard and Bakkt said Monday morning that they’re working to allow consumers to buy, sell and hold digital assets through custodial wallets offered by Bakkt.

Meanwhile, a Bakkt partnership announced Monday afternoon with Fiserv will allow for similar capabilities, allowing for merchants to expand their crypto payment offerings.

Bakkt shares went live on the New York Stock Exchange on Oct. 18 after a SPAC deal that valued the company at about $2.1 billion. The firm’s current market capitalization is over $4 billion.

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Michael Bellusci is CoinDesk's crypto payments reporter.