Bakkt Holdings says it has agreed to sell its loyalty services business in its bid to focus purely on its crypto offerings.
Crypto custody and trading firm Bakkt Holdings Inc. has sold its loyalty services business as it refocuses on being a “pure play crypto infrastructure company.”
Bakkt said on Monday that it agreed to sell its loyalty business, which allows its clients to offer travel and merchandise perks, for $11 million to Project Labrador Holdco, LLC, a subsidiary of the blank-check firm Roman DBDR Technology Advisors, Inc.
The deal is expected to close in the third quarter of 2025 and also includes accommodations for working capital, debt and a short-term cash loan to help with the transfer.
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