Strategic Collaboration Between Bakkt Inc. and Zoth
Bakkt Inc. has joined forces with Zoth in a new strategic collaboration aimed at developing a compliant stablecoin payment framework. This initiative will enhance remittance capabilities between the United States, South Asia, the Middle East, and select regions in Africa.
This partnership will enable Zoth to operate as an Authorized Agent under the regulatory oversight of Bakkt Financial Solutions I, LLC. It will leverage Bakkt’s U.S. regulatory licenses to facilitate enterprise-level payment transactions using stablecoins.
Streamlining Payments and Enhancing Compliance
Zoth, based in Singapore, anticipates that this new setup will streamline stablecoin-based payments for financial institutions and money transfer operators, particularly in high-traffic remittance corridors that have faced challenges with compliance in the past.
This collaboration comes shortly after Bakkt’s acquisition of Distributed Technologies Research (DTR), a firm specializing in advanced payments infrastructures designed for AI-driven transactions. Bakkt recently indicated that the acquisition would support the establishment of a continuous digital settlement network that operates on stablecoin solutions tailored for institutional finance.
Pritam Dutta, co-founder and CEO of Zoth, highlighted the significance of this partnership, stating, “By merging Bakkt’s comprehensive licensing framework with Zoth’s established payment systems and local market operations, we are creating a model for scaling cross-border payments in the Global South. This collaboration is advantageous not just for Zoth but also for every enterprise partner seeking a compliant and reliable payment solution.”
Future Ambitions and Market Impact
The partnership was hinted at during Bakkt’s Investor Day on March 17, 2026. Following that event, Bakkt outlined its ambitions to enhance its stablecoin payment operations via the integration of DTR’s capabilities. Currently, Zoth manages an impressive annual payment volume of around $300 million and aims to scale this figure to approximately $1 billion through this partnership.
The company has even reported sales of over $75 million in yield products on its platform.
Focus on Key Remittance Corridors
Initially, the partnership will concentrate on payment pathways connecting the U.S. to markets including South Asia, the Philippines, Nigeria, and the Gulf States. Significantly, Zoth has identified the corridor between the UAE and South Asia as the most substantial remittance channel in the Middle East and has active operations in several African countries, such as Uganda, Kenya, Ghana, Nigeria, and South Africa.
Building a Robust Payment Network
Zoth brings valuable connections in local banking and payment infrastructures across the Gulf Cooperation Council (GCC) and various Southeast Asian and South Asian markets. Notably, several major money transfer operators in the Gulf area are already utilizing Zoth’s network via licensed local branches.
This new alliance contributes to a burgeoning market for institutional stablecoin payment solutions, which has seen a surge in activity from fintech and blockchain companies seeking to establish regulated remittance systems for international transactions.
Zoth’s strategic partners, including Chainlink Labs, Olea Global Pte Ltd, and Intellistake Technologies Corp., add to its growing profile, with its product offerings featuring tokenized yield vaults, regulated treasury products, payment orchestration tools for cross-border transactions, and AI-driven payment services.
