Digital platform Bakkt has submitted an offer to acquire the Apex Crypto trading solution with a value of up to $ 55 million.
According to multiple sources, cryptocurrency company Bakkt will spend a whopping $200 million to acquire Apex Crypto, a crypto trading platform.
Specifically, Bakkt will pay $ 55 million in cash ahead, while the rest of the value will be paid in the form of shares based on Apex Crypto’s business results from now until 2025. The total value of the deal, if the most favorable, will be up to 200 million USD,
— Bakkt (@Bakkt) November 3, 2022
Apex Crypto is a cryptocurrency trading solution that provides trading, clearing, custody and settlement services for over 30 coins and tokens. The platform claims to have more than 220 customers and will integrate the list into the company’s existing solutions.
Meanwhile, Bakkt is a Bitcoin futures trading platform, developed by ICE, which operates the New York Stock Exchange (NYSE). ICE recently announced that it has withdrawn its investment capital from Bakkt because of unfavorable Q3 results.