Microsoft’s venture capital arm M12 invests in Bakkt, an open-source platform to manage digital assets

Bakkt is building an open global network that will enable anyone to buy, sell, store and spend digital assets simply, safely and efficiently. It is supported by Intercontinental Exchange’s proven financial market infrastructure and technology and it is designed to meet applicable regulatory requirements.

Bakkt yesterday confirmed that it has completed its first round of funding of $182.5 million from several investors including Microsoft’s venture capital arm M12.

“Our work today is centered on driving institutional access for digital assets, along with merchant and consumer uses, and we’re already expanding on this vision, collaborating with great companies like Starbucks in these efforts,” said Kelly Loeffler, CEO of Bakkt.