Digital asset company Bakkt released its financial report, showing a total revenue growth of $780 million in 2023, but a net loss of $226 million, a decrease of 89% compared to the previous year. Bakkt attributed its revenue growth from $56 million in 2022 to the successful acquisition and integration of Bakkt Crypto (formerly known as Apex Crypto) in April of last year. However, due to increased costs related to cryptocurrency trading, the platform's operating expenses skyrocketed to over $1 billion.

As per the latest quarterly report from Bakkt Holdings Inc., the number of crypto-enabled accounts rose to 6.1 million in Q3 2023.

According to Bakkt Holdings Inc.'s Q3 2023 earnings report, the company achieved a total revenue of $204.8 million. The report attributes this significant growth primarily to the acquisition of Apex Crypto, demonstrating the effectiveness of the company's growth strategy.

Bakkt, a crypto firm, is shifting its focus back to digital asset custody and has announced support for six new coins, including Bitcoin Cash, Dogecoin, and Ethereum Classic. The company plans to add more coins to its custodial services early next year. Bakkt is employing various security measures to protect assets, such as cold storage of coins and multi-signature technology. The company's quarterly earnings report showed a decrease in adjusted EBITDA loss year-over-year, but an increase in crypto revenue thanks to the acquisition of Apex Crypto. Bakkt is also developing partnerships to strengthen its crypto custody arm and expand its business-to-business (B2B) client base.

Digital asset platform Bakkt Holdings, Inc. has announced the relaunch of Bakkt Custody platform. The redesigned Bakkt Custody provides segregated on-chain wallet addresses. Bakkt's institutional-grade platform is operated by Bakkt Trust Company LLC, a qualified custodian of the New York Department of Financial Services.<br>In addition to enhanced functionality, Bakkt will also add six additional tokens to the Bakkt custody platform, for a total of eight tokens, including Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, Litecoin, Dogecoin, USD Coin, and Shiba Inu Coin.

On November 14th, digital asset platform Bakkt released its third quarter financial report, with total revenue of $204.8 million (including cryptocurrency total revenue and net loyalty revenue), of which cryptocurrency service total revenue was $191.8 million, and total operating expenses were $257.6 million, including cryptocurrency costs and execution, settlement and brokerage fees, as well as impairment of goodwill and intangible assets.<br>Excluding cryptocurrency costs and execution, clearing and brokerage fees, and impairment of goodwill and intangible assets, expenses were $44.2 million, a year-on-year decrease of 26%. Bakkt is expanding its cryptocurrency capabilities in nine new international markets and is expected to operate in these markets by the end of the year, including the United Kingdom, Hong Kong, Latin America, Singapore, Australia, and Spain.

Bakkt Holdings, Inc. (NYSE stock code: BKKT) announced plans to expand its cryptocurrency business to many international markets, including existing and new customers, by the end of the year. Latin American market: Bakkt and stock trading platform Hapi recently further expanded their cryptocurrency trading capabilities in Latin America, expanding to Mexico and Argentina, and are expected to launch in Brazil by the end of 2023. European market: Bakkt and Hapi are expected to launch in Spain by the end of 2023. In addition, Bakkt will provide cryptocurrency trading and custody services for the crypto application 3.0verse in the UK and EU, with plans to launch by the end of the year. Asian market: Bakkt will collaborate with 3.0verse throughout Asia, including Hong Kong and Singapore. In addition to international expansion, Bakkt continues to conduct business with US-based institutional clients. Bakkt and EDX Markets (a digital asset market for crypto-native companies and large financial institutions) have preliminarily agreed that Bakkt will join EDX's clearinghouse and custody network as a backup qualified custodian.