Why Bakkt Stock Skyrocketed 234% Today

Shares of Bakkt Holdings (NYSE: BKKT) soared 234% on Monday, after the digital asset platform announced blockbuster deals with not one but two financial heavyweights.

Bakkt is partnering with Mastercard (NYSE: MA) to help the debit and credit card processing titan provide its customers with a broad range of cryptocurrency services. These include the ability to buy, sell, and hold cryptocurrencies like Bitcoin (CRYPTO: BTC). In addition, Mastercard and Bakkt will give merchants and banks the ability to offer crypto-based loyalty rewards and payment cards.

"Together with Bakkt and grounded by our principled approach to innovation, we'll not only empower our partners to offer a dynamic mix of digital assets options, but also deliver differentiated and relevant consumer experiences," Mastercard executive Sherri Haymond said in a press release.

Continue reading

Source Fool.com