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Bakkt Expands Reach into Latin America and Southeast Asia

Bakkt Holdings, a prominent crypto trading and custody platform, boldly expands into international markets to capitalize on the growing cryptocurrency industry. This includes the establishment of crypto trading and onramp capabilities in Brazil and Guatemala. The move aims to fortify Bakkt’s existing presence in Latin America, where operations are already underway in Argentina and Mexico.

Simultaneously, Bakkt has broadened its footprint into the bustling markets of Hong Kong and Singapore in Southeast Asia. This expansion aligns seamlessly with the surging growth and regulatory clarity observed in these crypto-friendly regions.

Bakkt Expands Reach Into Latin America And Southeast Asia
Source: Freepik

Gavin Michael on Bakkt’s Commitment

Gavin Michael, CEO of Bakkt, emphasized the company’s commitment to global accessibility. He stated, “At Bakkt, we believe that crypto has the power to enhance financial inclusivity and connect communities within the global economy. We’re excited about what these regions have to offer and our ability to make crypto more accessible to millions of people.”

International Foray and Key Objectives

The international foray is a strategic move in line with Bakkt’s key objectives for 2024. The company maintains its collaboration with clients Hapi and SogoTrade. This facilitates a concerted effort to transform the landscape of global crypto trading.

Expanding Crypto Horizons in Latin America

Bakkt’s collaboration with stock trading platform Hapi has seen the activation of crypto trading capabilities across Latin America. The platform is now live in Brazil and Guatemala, complementing its existing operations in Argentina and Mexico. Notably, this partnership extends further, reaching into Spain, enhancing the depth of Bakkt’s foothold in Europe.

Hapi, a user-friendly stock trading platform, democratizes access to the US stock market in Latin America. Hapi enables users in the region to register, transfer funds, and trade stocks and ETFs in real time, fostering financial prosperity with no minimums or commissions.

Venturing into Asian Markets

Bakkt’s expansion into Southeast Asia includes activating crypto trading in Hong Kong and Singapore. This is done in collaboration with digital brokerage SogoTrade. The companies are poised to launch these capabilities in additional international markets soon.

SogoTrade, a US-based stockbroker regulated by authorities such as the SEC and FINRA, is recognized for its user-friendly account opening process and low trading fees. With a focus on catering to beginner investors, SogoTrade supports multiple languages, especially targeting Chinese speakers.

Navigating Regulatory Landscapes

The strategic move into Hong Kong aligns with robust regulatory frameworks and clear tax structures. Similarly, Singapore’s status as an international financial hub supports this expansion. Both jurisdictions are attractive for major players in the crypto industry. Well-defined regulations provide a conducive environment for crypto-related businesses.

Tiger Research predicts that Asia will be the epicenter of the global crypto landscape within the next five years. Singapore’s stringent scrutiny in approving licenses to crypto players emphasizes robust anti- money laundering controls. This approach has resulted in the country granting licenses to only 14 crypto firms to date.

Future Steps: UK and Australia

Looking ahead, Bakkt has outlined plans to establish a presence in the UK and Australia in the coming months. This trajectory aligns with the company’s steadfast commitment to providing institutional-grade custody, trading, and onramp capabilities across diverse international markets.

As Bakkt navigates this expansive journey, it remains dedicated to executing for its clients and ensuring a seamless debut into new markets. The focus on collaboration, accessibility, and regulatory adherence positions Bakkt as a trailblazer in fostering global financial inclusivity through the power of cryptocurrency.

In conclusion, Bakkt’s strategic expansion marks a significant chapter in the evolution of global crypto trading, empowering individuals and connecting communities within the ever-expanding crypto economy.

January 26, 2024 at 9:00 pm

Updated January 26, 2024 at 9:00 pm



Remember, investing in cryptocurrencies involves risks, and it’s important to conduct thorough research and seek professional advice before making any financial decisions. (Please keep in mind that this post is solely for informative purposes and should not be construed as financial or investment advice.)


Cryptocurrency is a digital form of currency secured by cryptography, not controlled by governments or banks.

Cryptocurrency wallets are digital tools for storing and managing your crypto assets.

Best practices for crypto investment include research, diversification, investing what you can afford to lose, and avoiding hype-driven investments.

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