Bakkt Holdings, Inc. (BKKT) Q1 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.858 Greetings and welcome to the BACT first quarter 2025 earnings conference call. 00:00:04.858 -- 00:00:08.122 At this time, all participants are in a listen-only mode. 00:00:08.122 -- 00:00:11.046 As a reminder, this conference call is being recorded. 00:00:11.046 -- 00:00:14.891 I'll now turn it over to Cody Fletcher, investor relations advisor at BACT. 00:00:14.891 -- 00:00:16.633 Please go ahead. 00:00:16.633 -- 00:00:22.121 Hello, everyone, and thank you for joining BACT's first quarter 2025 earnings call. 00:00:22.121 -- 00:00:26.306 Before we get started, I'd like to remind everyone that today's earnings call includes 00:00:26.306 -- 00:00:31.540 a separate supplemental presentation that can be found at our investor relations website 00:00:31.540 -- 00:00:33.861 at www.investors.bact.com. 00:00:36.426 -- 00:00:40.791 During today's call, we will make certain forward-looking statements, including statements 00:00:40.791 -- 00:00:45.616 regarding our cooperation agreement with DTR, the proposed commercial agreement with 00:00:45.616 -- 00:00:49.318 DTR expected by Q3 2025, 00:00:49.320 -- 00:00:54.526 and the anticipated integration of DTR stablecoin and AI payment infrastructure 00:00:54.526 -- 00:00:57.153 with BAC's regulated platform. 00:00:57.153 -- 00:01:01.579 We'll also discuss our strategic transformation to a pure play crypto infrastructure 00:01:01.579 -- 00:01:06.827 company, including the divestiture of our custody business to ICE, including 00:01:06.827 -- 00:01:11.954 expected timelines and ongoing discussions regarding our loyalty business, as well 00:01:11.954 -- 00:01:17.001 as expectations regarding the stablecoin payments market, regulatory environment, 00:01:17.001 -- 00:01:19.325 and our product roadmap. 00:...