Bakkt Shifts Focus to B2B Technology Solutions, Plans to Discontinue Consumer App

Bakkt Holdings Inc. announced Monday that it volition solely absorption connected business-to-business exertion solutions and discontinue its user application. The institution stated that the app volition officially beryllium discontinued connected March 16, 2023, and app users volition proceed to person entree to each of their assets.

Bakkt Consumer App to Sunset, Loyalty Points Still Accessible Through Other Channels

Following Bakkt’s pending acquisition of Apex Crypto from Apex Fintech Solutions, the institution has announced it is discontinuing its user concern venture. Bakkt’s user level volition displacement its absorption to supply businesses with crypto and loyalty experiences for their customers done software-as-a-service and exertion programming interface solutions connected a unafraid and compliant platform. The crypto institution refers to this absorption arsenic its “business-to-business-to-consumer” strategy.

“As we proceed to summation traction with our B2B2C strategy, we are laser-focused connected providing our partners and clients with seamless solutions that champion service their needs,” Gavin Michael, president and CEO of Bakkt said successful a statement. “The discontinuation of the app ensures we are supporting the narration our partners and clients person with their customers. With this move, we are focusing our concern connected our halfway solutions that person product-market acceptable and are positioned to standard quickly.”

Bakkt stated Monday that the pending Apex Crypto acquisition aligns with its business-to-business-to-consumer focus. The institution emphasized its committedness to “providing crypto products to a wide scope of lawsuit industries.” It added that customers utilizing the user app “will soon beryllium capable to entree their currency and crypto from immoderate device, some astatine location and connected the go.” Bakkt’s Visa-branded debit cards volition besides beryllium deactivated connected March 16, 2023.

Bakkt’s app documentation explains that the caller web acquisition volition person respective differences from the user application. Loyalty points volition nary longer beryllium visible, but they are not mislaid arsenic Bakkt assures that loyalty constituent rewards tin “still beryllium obtained by visiting the circumstantial loyalty program’s app oregon website.” Bakkt besides noted that determination volition beryllium further updates successful the aboriginal for existent user app users.

What bash you deliberation of Bakkt’s displacement towards a business-to-business-to-consumer absorption and the discontinuation of its user app? Share your thoughts successful the comments below.

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