The move marks the finalization of an acquisition of assets in futures commission merchant Rosenthal Collins Group (RCG). “With today’s closing of our transaction with Rosenthal Collins Group, we welcome great new team members to Bakkt,” the statement reads. By acquiring certain assets in the company, Bakkt said it hopes:
Bakkt had announced the acquisition of assets in RCG in mid-January. As the company’s CEO, Kelly Loeffler, explained at the time, the acquisition means that the company is slowing down operations while awaiting regulatory approval by the United States Commodity Futures Trading Commission (CFTC) for the launch of regulated trading in crypto markets.
Loeffler also added that the acquisition will allegedly expand Bakkt’s risk management and treasury operations with systems and expertise, and might contribute to Bakkt’s Anti-Money Laundering (AML) and know your customer (KYC) policies.