Bakkt, the cryptocurrency buying and selling platform majority-owned by Intercontinental Trade, is rumored to be deep in discussions to go public via a merger with VPC Affect Acquisition Holdings.

On Jan. 7, Bloomberg published a narrative citing nameless sources “with data of the matter” who claimed Bakkt is already in superior talks concerning the merger, predicting that an official announcement on the matter might be printed as quickly as subsequent week.

The sources estimate the mixed entity might be valued at greater than $2 billion ought to the merger be accomplished.

VPC is a particular function acquisition firm carefully affiliated with Victory Park Capital — an SEC-registered different funding agency. VPC chief government John Martin has described the agency’s core technique as looking for to “determine, accomplice with and assist develop a enterprise within the fintech sector.”

Bakkt launched in 2019 and is an institutional targeted, regulated platform providing “physically-delivered” Bitcoin futures contract. The trade’s futures drove $286 million in commerce quantity over the previous week.

Bakkt’s founding CEO and outgoing U.S. Senator, Kelly Loeffler, misplaced Georgia’s run-off election on Jan. 6.