A company called Bakkt, which was started by
Intercontinental Exchange
(ticker: ICE), the owner of the New York Stock Exchange, announced on Monday that it planned to go public.
Bakkt, founded in 2018, initially made waves by launching a Bitcoin futures product. But the company appears most focused now on a digital app that allows people to trade and spend various kinds of digital assets—from cryptocurrencies to loyalty points from businesses like
Starbucks
to videogame rewards.
Bakkt will go public through a special purpose acquisition company, or SPAC, which involves a shell company raising money to buy another company and take it public. Bakkt will merge with