ATLANTA & NEW YORK--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced that it has agreed to acquire Bridge2 Solutions, a leading provider of loyalty solutions for merchants and consumers. Following the completion of the transaction, Bakkt, a majority-owned subsidiary of ICE, intends to acquire Bridge2 Solutions from ICE using proceeds from Bakkt’s Series B round of funding, which is expected to close later this quarter.
Since launching the Bakkt Warehouse in 2019, along with its growing suite of bitcoin futures and options contracts, Bakkt has worked to bring trust, stability and innovation to the digital asset trading market. When Bridge2 Solutions ultimately joins Bakkt, the strategic combination will accelerate the development of the Bakkt consumer application, which will provide digital asset aggregation, conversion and payments through a single platform for consumers around the world.
Today, Bridge2 Solutions enables some of the world’s leading brands to engage customers and drive loyalty. It powers programs for seven of the top ten financial institutions and 4,500 loyalty, incentive and employee perk programs for companies across a wide spectrum of industries. The company’s Loyalty Pay solution expands the value of rewards programs and gives consumers a universal ability to pay with reward currencies both at the point of sale (POS) in retail stores and in-app through digital wallets. Integrating with Bakkt will allow top retail brands to offer more innovative loyalty programs and help consumers unlock and access value in those programs.
“Bakkt was created to help bring transparency and trust to the previously unregulated digital asset markets,” said Jeffrey Sprecher, Founder, Chairman and CEO of ICE. “With the launch of the Bakkt Warehouse and Bakkt futures and options markets, the company has achieved quick success with its custody and trading offering. Bakkt’s second round of funding, and its acquisition of Bridge2 Solutions, will help accelerate the development of Bakkt’s consumer application, which has been a key part of our strategy since we first looked at this market.”, 2020