Bakkt names new CFO in stablecoin growth push

Financial services firm Bakkt Inc. has appointed Matt White, former CFO of CoreCard Technologies, as its new Chief Financial Officer, effective Monday, amid a strategic shift toward stablecoin infrastructure. White succeeded Karen Alexander, who stepped down on August 14 after serving as CFO since August 2022. Alexander will act as an advisor to the company's general counsel and CFO until December 31, receiving a consulting fee of $400,000 annually.

White, who brings expertise in public company finance and technology, joins Bakkt after a seven-year tenure as CFO of CoreCard. As part of the transition, Alexander will surrender unvested equity awards totaling $200,000. White's appointment comes as Bakkt pivots from a crypto trading and loyalty platform to a stablecoin infrastructure provider, expanding its global market presence and stablecoin offerings.