US trading platform Bakkt to acquire stake in Indian brokerage Transchem, offer access to global securities

Digital asset trading platform Bakkt, backed by the likes of Citadel and Vanguard, is acquiring a stake in Transchem, a listed Indian brokerage, as part of its wider strategy to build a presence in the Indian market.

The company is initially investing about $10 million, with the total deal size pegged at around $40 million.

Bakkt —launched by NYSE parent Intercontinental Exchange (ICE) in 2018 as a digital asset trading platform — is looking to offer regulated access to offshore and tokenised investment products for Indian users.

This could include…