“By appointing Ray Kamrath to lead our commercial efforts, Bakkt is doubling down on our commitment to strategic expansion and growth. Ray brings a depth of experience and a proven track record of delivering business results, with deep client and marketplace relationships. All of this will be instrumental in bringing our strong, secure and scaled crypto platform to a growing market,” said Main.

Kamrath will lead the company’s sales across Bakkt’s crypto business including trade, custody and institutional offerings. Also under his remit will be marketing, strategic partnerships, client success, business development and operations, with an overall focus on scaling and growing Bakkt’s business.

“I’m excited to bring my energy and experience to this role and focus on forging new pathways to elevate Bakkt’s business,” said Kamrath, Chief Commercial Officer. “Bakkt has deep expertise and dynamic solutions across institutional-grade custody, trading and onramps. We’ve identified the intersection between innovation and market needs, and I believe we are on a pathway to success as we witness the next wave of crypto adoption.”

Kamrath joined Bakkt in December 2023 as the Head of Institutional Solutions. He is a seasoned professional with 30 years of experience in capital markets. This is highlighted by his role at Jefferies as the Global Head of Foreign Exchange and Prime Brokerage, where he transformed the business into a riskless principal business leveraging advanced trading algorithms. He also worked at Goldman Sachs as Managing Director in Foreign Exchange, leading Sales and Global Electronic Trading. Kamrath has worked in crypto through various entrepreneurial and executive roles since 2018. He is a graduate of the University of Virginia.