Bakkt Holdings, Inc. announced that the company has tapped Crossover Markets to provide technology to help power BakktX, its forthcoming crypto Electronic Communication Network (ECN). Designed specifically to meet institutional needs, BakktX will be powered by Crossover's high-performance tech, providing institutional and professional traders with sub-10 microsecond matching latency, customizable and tailored liquidity streams, and significantly lower trading costs than incumbent crypto brokers and exchanges. BakktX will be available to Bakkt's liquidity providers and a group of early adopters in the coming months.

Users will benefit from Bakkt's prioritization of risk management, reliability and compliance alongside capital markets-friendly workflows for digital assets trading. Bakkt will share more regarding the expected launch date in the near future.