Bakkt Appoints New CEO and President

The American operator of global exchanges and clearinghouses, Intercontinental Exchange (ICE), has appointed Mike Blandina as CEO and Adam White as President of its digital assets trading and payments platform, Bakkt.

As per the announcement on Monday, the appointments were made on December 20, as the previous CEO, Kelly Loeffler left Bakkt to occupy the seat of retiring United State Sen. Johnny Isakson. 

Following Mike’s new position, he now oversees the charting of Bakkt’s strategic direction, payment products and markets, including the financial and regulatory performance of the company. 

Jeffrey Sprecher, Founder, Chairman and CEO of ICE expressed satisfaction with the newly appointed CEO, saying “his more than 25 years of experience in payments across product, engineering, strategy and operations will continue to serve us well.” 

Adam White, who previously served as COO of Bakkt, now occupies the role of President. With a wide range of experience in crypto markets, he will partake in Bakkt’s strategic direction, while also overseeing the digital asset markets, custody, and trading for the company. 

The recently launched digital assets trading, Bakkt has been able to secure a position of a global leader in the digital assets space, amid in-demand services, including its fully-regulated bitcoin futures and options market with ICE Futures U.S.

In November, Bakkt received a green light from the New York Department of Financial Services (NYDFS) to provide bitcoin custody services to institutional investors, under its storage facility named the “Bakkt Warehouse,” which was only available for investors trading the Bakkt Bitcoin Futures contracts.

Meanwhile, Bakkt recently saw a 6,226 (25%) new record volume on its physically delivered BakktTM Bitcoin (USD) Futures contracts listed on ICE Futures U.S.

To keep the pace as an industry leader, the company plans to build on this momentum by next year, new services like trading products, an innovative consumer payments app, an expanded custody offering.