Bakkt sunsets its consumer-facing crypto app to focus on B2B solutions

Digital plus level Bakkt has announced its plans to displacement its absorption to B2B exertion solutions. The institution said it volition soon beryllium sunsetting its consumer-facing app, which was designed to springiness users the quality to utilize their integer assets successful antithetic ways. The app, launched successful March 2021, offered a user-friendly acquisition that brought unneurotic assorted integer assets, including cryptocurrencies, loyalty points, and acquisition cards.

Despite the discontinuation of its consumer-facing app, existent Bakkt App users volition inactive person entree to their crypto and currency holdings done a caller web-based platform, disposable connected each devices. According to Bakkt, users tin inactive cheque their crypto balances and get transaction reports for taxation purposes. The app is expected to cease operations connected March 16, 2023. 

Gavin Michael, President & CEO of Bakkt, emphasized the company's committedness to providing the champion solutions to their partners and clients, saying, "The discontinuation of the app ensures we are supporting the narration our partners and clients person with their customers.” He added that the institution is focusing its concern connected its halfway solutions that person product-market acceptable and are positioned for accelerated scaling.

Bakkt aims to proceed providing businesses with crypto and loyalty experiences for its customers done SaaS and API solutions connected a unafraid and compliant platform.

Related: The past and improvement of the fintech industry

In November 2022, Cointelegraph reported that Bakkt had agreed to get Apex Crypto for a terms of $200 million. Apex Crypto is simply a turnkey level for integrated crypto trading, serving implicit 5 cardinal customers done much than 30 fintech partners. The upcoming acquisition further reinforces Bakkt's B2B2C strategy and its extremity of bringing crypto products to a broader lawsuit base.

The integration of Apex Crypto into Bakkt's operations is expected to heighten the cryptocurrency firm's offerings and scope a wider assemblage done fintech firms, trading platforms, and neo-banks. This collaboration aims to thrust the improvement and innovation of crypto products specified arsenic staking, transfers, and NFTs, yet starring to an summation successful gross and diverseness for Bakkt arsenic it expands its services.