Management has transitioned Bakkt from a legacy loyalty and custody provider into a digital finance infrastructure platform focused on programmable money and stablecoins. The company's strategy is now organized around three complementary engines: Bakkt Markets (institutional rails), Bakkt Agent (AI-powered consumer finance), and Bakkt Global (capital-light international expansion). Performance attribution for the past year reflects a deliberate 'heavy lifting' phase involving the divestiture of non-co ...