The share cost of the Intercontinental Substitution-backed crypto services company Bakkt (BKKT) has surged equally it unveiled 2 partnerships with major global payments firms.

On Mon, Oct. 25, Mastercard appear information technology would be working with digital asset platform Bakkt to permit its United States-based customers to buy, sell and hold digital assets through custodial wallets. On the same day, global payment provider Fiserv also announced a strategic collaboration with Bakkt to offer merchant-facing digital asset services.

The news drove a bullish day of trading for BKKT, with the stock rallying past more than than 50% outside of regular trading hours from Fri, October. 22's closing price of $9.15, before surging a further 120% to close out Mon, Oct. 25 at $thirty.60.

While Bakkt's debut on the New York Stock Substitution saw its share price pull back by half-dozen% to close out its get-go day of trading, BKKT has since rallied more 236% from $9.09 to $30.60 over the past five days.

'BKKT/USD: TradingView'

Bakkt went public on Oct. 18 through a Special Purpose Acquisition Visitor deal that valued the visitor at $2.1 billion. Bakkt's marketplace capitalization currently sits at more than $four billion.

Related: Mastercard plans to let United states partners to offer crypto loyalty rewards

In Baronial 2022, Coinbase investor and New York Stock Exchange owner Intercontinental Exchange appear information technology would launch a digital asset platform dubbed Bakkt.

The following twelvemonth, Bakkt launched its highly anticipated physically "deliverable" Bitcoin futures contracts for institutional investors.

After initially challenge to pioneer physically delivered Bitcoin futures contracts, the firm received criticism over their greenbacks-settled product design. In response, Bakkt fully collateralized its daily futures contracts.

The firm launched a retail crypto asset payments app in April of this year, while its futures contracts posted record book earlier this month.