Bakkt appoints new co-CEOs to focus on strengthening cryptocurrency services

Cryptocurrency custodian and exchange Bakkt Holdings has appointed a new co-CEO and is set to take a firm grip on the market after recently losing two major clients.
Bakkt plans to reduce some of its services and focus on cryptocurrency-related services.
The company announced that it has appointed Akshay Naheta, founder of Digital Technologies Research (DTR), as co-CEO. Naheta will join CEO Andy
Backt will work with DTR to integrate DTR's stablecoin-based settlement infrastructure into Backt's cryptocurrency trading and brokerage business.
The partnership is expected to be integrated into the blockchain-based blockchain technology, subject to regulatory approval. The partnership will generate new revenue streams from stablecoin payments and cryptocurrency trading, and will help to promote the adoption of cryptocurrencies.
The company is expected to help boost the efficiency of cross-border payments, a hot use case. Prior to setting up DTR in 2022, he was a director at investment management giant SoftBank Group Corp.
He previously served in various roles at SoftBank Group for nearly six years, and SoftBank has experience investing in cryptocurrency-related companies.