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Bakkt Reports Q3 Financial Results and Expansion into New International Markets
According to Foresight News, digital asset platform Bakkt has released its third-quarter financial report, showing total revenue of $204.8 million, which includes cryptocurrency total revenue and net loyalty income. The total revenue from cryptocurrency services amounted to $191.8 million, while total operating expenses reached $257.6 million, including cryptocurrency costs and execution, settlement and brokerage fees, and goodwill and intangible asset impairments. Excluding these expenses, the expenditure was $44.2 million, a 26% year-on-year decrease.
Bakkt has expanded its cryptocurrency capabilities into nine new international markets, with plans to commence operations in these markets by the end of the year. These markets include the United Kingdom, Hong Kong, Latin America, Singapore, Australia, and Spain.