Bakkt targets $2.5B in 2026 total transacting volume as DTR integrations progress

Bakkt’s Q1 2026 earnings call frames the company as a payments infrastructure play focused on stablecoin-driven transactions. Management says it aims to capitalize on a structural shift away from legacy rails and is pursuing partner integrations and DTR-related work to scale transacting volume (company target ~ $2.5B in 2026). Financially Bakkt finished the quarter with $82.6M in cash/equivalents/restricted cash and no long-term debt, but noted integration and acquisition costs and reliance on partner activations. Operational execution, sales-cycle timing and regulatory approvals are key risks. Market impact: if Bakkt successfully scales stablecoin payments, it could accelerate crypto payments adoption and boost transaction flows across crypto infrastructure; however near-term upside is tempered by execution and regulatory uncertainty.