• Earlier in May 2026, Zoth announced it had signed a memorandum of understanding with Bakkt, Inc., using Bakkt’s licensed subsidiary Bakkt Financial Solutions I, LLC to underpin a planned cross‑border payments offering that combines Bakkt’s US regulatory infrastructure with Zoth’s emerging‑market payment corridors and local operations.
• The arrangement positions Bakkt as the regulated backbone for Zoth’s enterprise money transfer clients, potentially enhancing Bakkt’s role in compliant, institutional‑grade stablecoin payment flows across high‑growth regions.
• We’ll now examine how Bakkt’s role as Zoth’s regulated infrastructure partner could influence the company’s broader investment narrative and future opportunities.

Find 54 companies with promising cash flow potential yet trading below their fair value.

Bakkt Investment Narrative Recap

To own Bakkt, you need to believe it can turn its regulated crypto and stablecoin infrastructure into sustainable, higher margin fee revenue, despite current losses and past volatility. The Zoth partnership and new Zoth powered corridors speak directly to the core near term catalyst around Bakkt Agent transaction growth, while the fresh US$208.4 million shelf registration and widening losses keep dilution risk and balance sheet pressure front and center for the short term.

The most directly connected update here is Bakkt’s Q1 2026 result, which swung from a US$7.7 million profit a year ago to an US$11.7 million net loss, underscoring how far the business still is from consistent profitability even as it signs new Agent and Markets partnerships. Against that backdrop, the Zoth MOU matters because it could test whether Bakkt’s licensed infrastructure can actually convert these early corridor wins into recurring, fee based cross border volumes.

Yet behind the appeal of new cross border stablecoin flows, investors should be aware that ongoing equity issuance and limited cash runway could...

Bakkt's narrative projects $207.9 million revenue and $49.0 million earnings by 2028. This assumes revenue will decrease by 62.3% per year and a $90.5 million earnings improvement from -$41.5 million today.

Uncover how Bakkt's forecasts yield a $40.00 fair value, a 313% upside to its current price.

Exploring Other Perspectives

Eight fair value estimates from the Simply Wall St Community span roughly US$11 to more than US$298,000 per share, showing just how far opinions can diverge. Set against that spread, the recent swing back to losses and reliance on equity issuance highlight how sensitive Bakkt’s future performance may be to whether Agent and Markets volumes scale fast enough, so it makes sense to compare several of these viewpoints before forming your own view.

Explore 8 other fair value estimates on Bakkt - why the stock might be worth just $11.50!

Decide For Yourself

Disagree with existing narratives? Extraordinary investment returns rarely come from following the herd, so go with your instincts.

• A great starting point for your Bakkt research is our analysis highlighting 4 important warning signs that could impact your investment decision.
• Our free Bakkt research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Bakkt's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.