ICE spent close to $300 million acquiring Bridge2 Solutions for Bakkt, CEO Jeffrey Sprecher said in an earnings call Thursday.
Bakkt raised $300 million from its parent firm ICE, as well as Microsoft's M12, Pantera and a number of other funds.
Intercontinental Exchange, Bakkt's parent firm, has acquired loyalty services provider Bridge2 Solutions to boost Bakkt's efforts to build a consumer-focused crypto payments app.