Bakkt has promoted its chief product officer, Mike Blandina, to CEO; and Adam White as President of Bakkt

Bakkt, the digital asset trading platform of the Intercontinental Exchange (ICE), promoted product manager Mike Blandina to chief executive officer (CEO). Intercontinental Exchange, Inc., a leading operator of global exchanges and clearing houses and providers of data and listings services, has also appointed Adam White as president of the company. This decision will officially take effect on December 20, 2019, right after the departure of founding CEO Kelly Loeffler.

Intercontinental appoints Mike Blandina as CEO of Bakkt and Adam White as president of Bakkt

Loeffler was appointed to the US Senate position to fill the seat of retired Senator Johnny Isakson.

As CEO, Blandina will outline Bakkt’s strategic direction, payment products, and markets. At the same time, Blandina will also be responsible for overseeing the company’s financial and legal operations. Blandina joined Bakkt in early 2019, after holding leadership positions at PayPal, Google, and other companies.

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Mike Blandina, chief executive officer (CEO) of Bakkt

Adam White, from the position of chief operating officer (COO), has been appointed chairman of Bakkt. White is a former Coinbase director who was predicted to take on Loeffler’s role. In his new role, White will focus on the digital asset market, custody, and trading, as well as Bakkt’s strategic direction.

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Adam White, chairman of Bakkt

The new journey of Bakkt

During Loeffler’s tenure, Bakkt implemented physical Bitcoin futures, cash payments, as well as Bitcoin options. Loeffler has worked for ICE for nearly 16 years, along with Sprecher, her husband. She then joined Bakkt in 2018 as CEO. Now, she’s ready to serve Georgia as a US senator starting January 2020.

Bakkt also recently ventured into the depository business, as well as announced plans to launch its consumer cryptocurrency and trading portal applications in the first half of 2020. Starbucks will be a partner when it launches. In Monday’s announcement, Bakkt said it had set a new volume record with 6,226 Bitcoin futures contracts delivered, up more than 25% from the previous record.

Bakkt plans to build on this momentum by 2020 with a product roadmap that includes new trading products, an expanded depository service, an innovative consumer payment application, along with the additional innovations will be announced.

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