Digital Currency Revolution Series: ICE Backed Bakkt Eyes On eBay For Acquisition Deal

The new cryptocurrency start-up, ‘Bakkt’ established by the Intercontinental Exchange (ICE), has been in news quite frequently for their launch of bitcoin options, futures contracts with physical delivery as well as cash-settled facilities. 

But for now, the Intercontinental Exchange Inc. (ICE), the owner of the New York Stock Exchange (NYSE) and Bitcoin futures trading platform Bakkt, has tapped eBay to offer an acquisition deal.

A multi-billion-dollar deal has just taken place in the international headlines as the staggering valuation of the e-commerce company approximately of $30 billion lures the acquiring company, as per the recent WSJ reports.

Thereby, the acquiring company is smelling prosperity by deploying their tech-savvy expertise in optimizing buyers and sellers network to eBay’s crux of business which is e-commerce encompassing wide range of products from electronics to collectibles.

"We are not in negotiations regarding the sale of all or part of eBay," ICE said in a statement. 

There have been various M&A deals among the crypto community in the recent past, Binance’s strategic partnership leads to investment flow to acquire minority stake in Crypto-Derivative Exchange, ‘FTX’, their M&A deal between ‘Binance and Indian crypto-exchange WazirX’ have kept them in limelight. This would be the latest and yet another deal from ICE if it capitalizes on the valuations.

Over ICE’s 20-year history, the company’s track record of creating shareholder value, both through organic growth and acquisitions, speaks for itself. ICE does look to explore potential opportunities that it expects will deliver enhanced shareholder value, and will continue to do so in the future.