Bakkt sees partnerships activating services toward end of Q1

Bakkt Holdings (BKKT -11.8%) expects that products being developed by its first round of partners will start to activate toward the end of Q1, said the company's CEO, Gavin Michael in a virtual session at Oppenheimer's Blockchain & Digital Assets Summit. The company sees its business-to-business-to-consumer (B2B2C) model as an advantage as well as its combination of crypto payment, loyalty programs and custody services providing a moat to competition. Its aim is to provide non-crypto-native businesses the ability to integrate cryptocurrency services and rewards and get to market quickly. Recall that Bakkt (NYSE:BKKT), which grew out of Intercontinental Exchange (NYSE:ICE), became a publicly traded company through its merger with Victory Park SPAC, VPC Acquisition in October. Bakkt (BKKT) Chief Financial Officer Drew LaBenne said the company's revenue currently comes from two streams — transaction revenue and subscription & service revenue — with a third stream that will come into play