{"id":58006,"date":"2022-02-17T18:24:57","date_gmt":"2022-02-17T16:24:57","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=58006"},"modified":"2025-09-04T14:34:11","modified_gmt":"2025-09-04T11:34:11","slug":"bakkt-eyes-double-revenue-growth-in-2022","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bakkt-eyes-double-revenue-growth-in-2022\/","title":{"rendered":"Bakkt Eyes Double Revenue Growth in 2022"},"content":{"rendered":"

Bakkt set a goal to grow revenue from $39.4 million last year to $60 million\u2013$80 million for 2022. Such expectations were presented<\/a> by the management of the institutional platform after the publication of the financial results.<\/p>\n

On October 14, shareholders of VPC Impact Acquisition Holdings, at an extraordinary meeting approved<\/a> the merger with Bakkt.<\/p>\n

The combined company’s revenue rose 38% for the full year 2021. The driver was a substantial rise in transactional revenue from loyalty programs.<\/p>\n

In the fourth quarter, year-on-year, the volume of digital asset conversions rose 34%, to 222 million. The number of accounts on the platform that conducted at least one transaction increased by 13% to 867,000.<\/p>\n

The company warned that in 2022 it would remain unprofitable due to active investment in business development. For these purposes Bakkt will allocate $150 million\u2013$170 million from its cash cushion of $390 million (as of the end of 2021).<\/p>\n

\n

“We are working with our partners to roll out in the near term new solutions such as rewards and crypto payouts,”<\/em> said Gavin Michael, CEO of Bakkt.<\/p>\n<\/blockquote>\n

In the fourth quarter, the platform’s partner network added Manasquan Bank, Hanover Bank and Valliance Bank, BringMeThat.com, Nexo and Wyndham Rewards.<\/p>\n

Earlier, Valliance Bank announced<\/a> the ability to buy, sell and store digital assets thanks to Bakkt.<\/p>\n

In November 2021, the platform announced<\/a> the integration of Ethereum into its services.<\/p>\n

Earlier, Bakkt launched<\/a> a mobile app that lets users store, buy and sell Bitcoin. The digital wallet is available on iOS and Android.<\/p>\n

Read ForkLog\u2019s Bitcoin news on our Telegram Telegram<\/a> \u2014 crypto news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bakkt aims to grow revenue from $39.4 million last year to $60\u2013$80 million for 2022. Such expectations were presented by the management of the institutional platform after the publication of the financial results.<\/p>\n","protected":false},"author":1,"featured_media":58007,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[780],"class_list":["post-58006","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bakkt"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/58006","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=58006"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/58006\/revisions"}],"predecessor-version":[{"id":58008,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/58006\/revisions\/58008"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/58007"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=58006"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=58006"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=58006"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}