Bakkt Completes $300 Million Series B Financing

In a blog post released today, Bakkt announced its $300 million Series B financing round. The round saw participation by Intercontinental Exchange, Microsoft’s M12, PayU, Boston Consulting Group, Goldfinch Partners, CMT Digital, and Pantera Capital. The company also updated its website with new details about its Bakkt app scheduled to launch this summer.

Why it matters:

• While markets everywhere plummet, Bakkt appears to be building a warchest, announcing one of the largest cryptocurrency venture rounds ever.
• The blog post appears to note a shift in emphasis towards Bakkt’s consumer app, which takes a more broad view of digital assets, including loyalty and rewards points, in-game assets, merchant stored value, and cryptocurrencies.