Recall that Bakkt was created by the Intercontinental Exchange, which owns large derivatives exchanges and the NYSE, in order to help Starbucks customers buy coffee for BTC. The company’s first CEO was Kelly Leffer.
In 2021, Bakkt introduced its own digital wallet, but its release was discontinued last year due to the company’s transition to technology services for businesses.
Overall, efforts to use Bitcoin as a means of payment have not been very successful, although the layer 2 Lightning Network is still striving to make this idea a reality.
Trading in the Bank’s shares closed at $1.45 on Wednesday, compared with more than $40 in 2021.