Oh, what a world! Bakkt and Zoth, those crazy kids, have cooked up a scheme to conquer the South Asia remittance market with stablecoins. It’s like a financial farce, but with more zeros and fewer laughs… unless you’re laughing all the way to the blockchain bank!
- Bakkt and Zoth are teaming up to build a “compliant” stablecoin payment system across South Asia, the Middle East, and Africa. Compliant? Sure, Jan!
- Zoth claims this partnership lets enterprise clients ride Bakkt’s U.S. licensing coattails for cross-border settlements. It’s like a financial buddy system, but with more paperwork!
- Bakkt’s been on a stablecoin spree since gobbling up DTR earlier this year. It’s like they’re collecting companies instead of stamps!
According to a press release (because who doesn’t love a good press release?), Zoth will operate as an Authorized Agent under Bakkt’s licensing umbrella. It’s like a financial hall pass, but with more regulatory approvals!
The Singapore-based firm (fancy!) says this setup will help financial institutions and money transfer operators move stablecoins across high-volume corridors. Because nothing says “compliance” like a stablecoin in a high-traffic area!
This partnership comes hot on the heels of Bakkt’s acquisition of Distributed Technologies Research (DTR). They’re building a 24/7 digital settlement network using stablecoin rails. It’s like a financial subway system, but with fewer delays… hopefully!
Bakkt’s Licenses: The Real MVPs
Zoth gushes about Bakkt’s licensing stack, which includes pan-U.S. money transmitter licenses, FinCEN MSB registration, and a New York BitLicense. It’s like a financial Swiss Army knife, but with more legal jargon!
“By combining Bakkt’s US licensing stack with Zoth’s payment infrastructure and on-the-ground market operations, we are creating a template for how cross-border payments in the Global South move from pilots to production at scale. This partnership does not just benefit Zoth. It benefits every enterprise partner that has been waiting for a compliant, credentialed solution built to operate,” said Pritam Dutta, co-founder and CEO of Zoth. Or, as I like to call him, the financial wizard of Oz!
Bakkt teased this partnership during their Investor Day event on March 17, 2026. Because nothing says “we’re serious” like a teaser trailer for a financial partnership!
Zoth currently processes roughly $300 million in annualized total payment volume and expects to hit $1 billion annually. That’s a lot of zeros… and a lot of pressure!
The partnership will initially focus on payment routes linking the U.S. with South Asia, the Philippines, Nigeria, and Gulf markets. It’s like a financial world tour, but with fewer sightseeing stops!
Zoth boasts about its local banking relationships and payment infrastructure across the GCC, Southeast Asia, and South Asia. It’s like they’re the popular kid at the financial prom!
This partnership adds another player to the crowded field of institutional stablecoin payments. It’s like a financial game of musical chairs, but with more blockchain!
Zoth’s strategic partners include Chainlink Labs, Olea Global Pte Ltd, and Intellistake Technologies Corp. It’s like a financial supergroup, but with more tech and fewer guitars!
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2026-05-07 10:04